Deepak Fertilisers Q3 net profit increases 23% to Rs50 crore
Moneylife Digital Team 27 January 2012

According to Deepak Fertilisers, profitability was affected by a weak rupee

Pune-based Deepak Fertilisers and Petrochemicals Corporation said its net profit rose by 23% to Rs49.65 crore in the quarter ended 31 December 2011, but profitability was affected by a weak rupee.

The company had reported a net profit of Rs40.26 crore for the corresponding period last fiscal, it said in a statement. "Profitability was impacted adversely to the extent of Rs22 crore by rupee depreciation," the company said.

Total income of the company grew by 60% to Rs601.49 crore in the third quarter of the current fiscal from Rs375.03 crore in the same quarter of the previous fiscal, it said.

The rise in income was driven by the strong increase in both self-manufactured fertilisers and chemicals, the statement added.

The manufacturer of complex fertilisers, Deepak Fertilisers also produces speciality chemicals and bio-fertilisers, among other products.

Deepak Fertilisers closed at Rs140.60 per share on the Bombay Stock Exchange, 1.44% up from the previous close.

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