RCF net profit up 30% in Q4

Date:05-30-2014

India agrochemical company, Rashtriya Chemicals and Fertilisers (RCF) has reported a 30% increase in net profit at $25.67 million for the fourth quarter ended March 31, 2014.

However, the company posted a decline in net income during the Q4 period that was recorded at $326 million, compared to $358 million in the same period a year ago.

RCF overall net profit for the fiscal year 2013-14 was down by 11% to $42.50 million, against $47.78 million during 2012-13 fiscal year period.

The company’s total income during 2013-14 also declined to $1.12 billion, compared to $1.15 billion a year ago, the statement adds.

"Despite issues affecting fertiliser industry like availability of domestic gas, delay in receipt of subsidies, volatility in prices of raw materials and fluctuations in foreign exchange, there was improvement in bottom line of the company," RCF Chairman and Managing Director R G Rajan said.

Mumbai based company is the leading producers of fertilizers in India currently operating two plants at Trombay and Thal in Maharashtra, with combined capacity of 2.5 million tonnes of urea and 600,000 tonnes of complex fertilisers.