Nagarjuna Fertilisers sales jump to Rs 548 cr

Our Bureau

Hyderabad, Oct 22: Nagarjuna Fertilisers and Chemicals Ltd has achieved a 30 per cent increase in turnover for the first half year ended September 30, 1998 over the corresponding period in the previous year. The company posted a sales income of Rs 548.48 crore in the first half compared to Rs 421.72 crore recorded in the corresponding period in 1997-98. Fertiliser production, meanwhile, has increased by 48 per cent from 3.56 lakh MT to 5.27 lakh MT.

The company has reported a net profit of Rs 71.45 crore compared to Rs 63.10 crore for the corresponding period in the previous year. The board, which met here today, has taken on record the unaudited provisional financial results.

According to unaudited results, the company incurred financial charges to the tune of Rs 69.34 crore, while created a provision for Rs 32.25 crore towards depreciation. The company has reported a gross profit of Rs 128.42 crore against Rs 95.35 crore during the first half of the last year. The company stated that the second plantestablished at Kakinada is under stabilisation and the increase in turnover and production is mainly on account of additional production from the second plant.

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