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Informist, Friday, Nov. 8, 2024

--FACT Jul-Sept net profit INR 111.80 mln vs INR 1.05 bln year ago 

--FACT Jul-Sept revenue INR 14.49 bln vs INR 16.63 bln year ago 

--FACT Apr-Sept net loss INR 374.90 mln vs INR 1.77 bln net profit year ago 

--FACT Apr-Sept revenue INR 20.48 bln vs INR 28.96 bln year ago 

By Steffy Maria Paul

MUMBAI – The Fertilisers and Chemicals Travancore Ltd.'s net profit for the September quarter fell sharply as its revenue fell more sharply than the contraction in its expenses. The company posted a net profit of INR 111.8 million for the quarter, down 89.38% on year. The company has reported a fall in profit for seven quarters which includes net loss for the previous two quarters. The latest fall in profit is also the highest in these seven quarters.

The company reported a revenue of INR 14.49 billion for the quarter, down 12.90% on year. However, sequentially, the company's revenue was up 141.61%, its highest on-quarter growth in revenue in at least the last five years.

For Apr-Sept, the company reported a net loss of INR 374.90 million, as opposed to a net profit of INR 1.8 billion a year ago. For the half year, the company reported revenue of INR 20.48 billion, down from INR 28.96 billion a year ago.

The company's other income for Jul-Sept fell to INR 481.7 million from INR 503.8 million a year ago. The raw material cost during the quarter was INR 5.82 billion, down 18.65% on year. However, the company's stock-in-trade purchases more than doubled to INR 3.06 billion from INR 1.44 billion. The company's employee benefits expense for the quarter was INR 760.8 million, down from INR 824 million.

The company's depreciation and amortisation expense for the quarter rose to INR 64.4 million from INR 53.2 million a year ago. The company's other expenses for the quarter fell to INR 2.09 billion from INR 2.97 billion a year ago. The company's total expenditure for the quarter was INR 14.81 billion, down 7.26% on year.

The company's revenue from its fertiliser segment for the September quarter was INR 14.51 billion, down from INR 15.80 billion a year ago. The profit before tax and finance cost from this segment was INR 569.4 million, down very sharply from INR 1.99 billion a year ago. For the six months ended September, the company's revenue from the fertiliser segment was down 22.60% while the profit before tax and finance costs from the segment was down 88.13%.

The company's revenue from its petrochemical segment for the quarter was a mere INR 900,000, a fraction of the INR 842.2 million a year ago. For the segment, the company reported a loss before tax and finance cost of INR 86.6 million, down from a loss of INR 639.5 million. For the half year, the company's revenue from its petrochemical segment fell 93.7%.

On the National Stock Exchange, shares of the company closed at INR 885.80, down 1% from the previous day.  End

Edited by Ashish Shirke

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