Deepak Fertilisers And Petrochemicals Corp. Ltd. (DFPCL) Profits Up

22 October 2003

DFPCL profit after tax for the second quarter of the current year has gone up by 27% as compared to that of the previous year. While dip in fertilisers business and chemical trading volume brought the net sales figure lower at Rs. 104.87 crore as against Rs. 128.64 crore for the corresponding period of previous year, the company had been able to improve profit after tax to Rs. 11.14 crore from Rs. 8.78 crore due to improved performance of industrial chemicals.

For the half year ended September 30, 2003 DFPCL has posted net sales of Rs. 215.65 crore as against 259.30 crore for the corresponding period of the previous year. The profit after tax has increased from Rs. 19.30 crore to Rs. 24.30 crore, an increase of 26%.

The performance of the Fertilisers segment was affected due to changes in government policies on price concession scheme and inadequate supply of gas. It is expected that large gas finds in KG basin and LNG imports will improve availability of gas in future to enable the plant operations at optimum capacity levels.
The second stream of Concentrated Nitric Acid plant of 46200 MTA capacity was successfully commissioned and became operational during September 2003.

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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