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.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )