Profit Up & Set To Boost Concentrated Nitric Acid (CNA) Capacities

Pune, January 28, 2003

Deepak Fertilisers And Petrochemicals Corporation Limited (DFPCL) profit before tax for the third quarter has increased by 88%, from Rs. 13.20 crore to Rs. 24.78 crore that of corresponding period of the previous year. The profit after tax has increased from Rs. 9.55 crore to Rs. 14.93 crore as compared to that of previous corresponding quarter, an increase of 56%. The nine monthly profits after tax has increased to Rs. 34.23 crore as compared to Rs. 29.40 crore in the previous corresponding period.

Sales have enhanced from Rs. 114.34 crore to Rs. 142.72 crore for third quarter, registering an increase of 25%. This was achieved largely due to better performance of industrial chemicals. The performance of fertilisers segment continues to be affected due to changes in government policy on price concessions scheme, inadequate gas supply and delayed monsoons.

The company has decided to enhance its Concentrated Nitric Acid (CNA) production capacity by setting up additional 52800 MTA plant at its Taloja manufacturing facility. CNA is primarily used in the Nitroaromatics, Explosives and Defence applications. The total outlay of the project is Rs. 20 crore. The project will be fully commissioned during the next financial year.

According to Mr. S. C. Mehta, Managing Director, Deepak Fertilisers And Petrochemicals Corp. Ltd., "This will also provide a major boost to downstream industries due to ready availability of CNA. Adding further he said, "this will help bring further economies of scale, and consolidate volume driven competitive strategies".

For further information contact:
Vivek Y. Kelkar
Vice President - Communication
Tel: 91-20-2668 4155
Fax: 91-20-2668 5994
E-mail: vykelkar@deepakfertilisers.com

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