Deepak Fertilisers and Petrochemicals Corporation Ltd today posted 11.8 per cent increase in net profit at Rs 45.44 crore for the second quarter ended on September 30, 2013 on higher income. The company had clocked a net profit of Rs 40.64 crore in the same quarter previous year.
Total income of the company during the July-September, 2013 quarter rose to Rs 990.10 crore from Rs 690.69 crore in the same period last year.
Revenue from chemicals segment of the company grew by 55 per cent from last year’s level to Rs 370.75 crore, while income from agri—business segment rose by 33 per cent from last year’s level to Rs 450.53 crore, company said in a statement.
Commenting on the results, DFPCL Chairman and Managing Director Sailesh Mehta said: “In spite of the continuing adverse economic conditions, the company achieved substantial capacity utilisation for all its key products.”
He added that the expected stability of Indian currency and improvement in economic environment should help the company in improving profitability in the coming quarters.
The company has presence in agri business, mining chemicals, industrial chemicals and value added real estate.
The company’s shares fell by 1.76 per cent to settle at Rs 105.80 apiece on the BSE today.