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Tuesday, July 27, 1999
Indo Gulf posts Rs 40 cr profit
ENS ECONOMIC BUREAU
MUMBAI, JULY 26: Indo Gulf Fertilisers has posted a net profit of Rs 40.76 crore in the first quarter of the current fiscal against Rs 35.54 crore recorded in the corresponding period last year. Although the increase in net profit has been modest, turnover registered an increase of 56 per cent to Rs 465.43 crore from Rs 298.09 crore in the corresponding period last year.Much of the increase was accounted for by the commissioning of the copper smelter in March this year. As a result, the contribution of copper to the turnover increased from Rs 147.97 crore in the first quarter of 1998-99 to Rs 300.59 crore in the first quarter of the current fiscal. According to a company statement, the production from the Dahej facility received a good response from the market comprising electrical, telecom and other sectors. Income from fertilisers increased to Rs 164.84 crore, up from Rs 150.12 crore. Gross profit jumped by 58 per cent, from Rs 68.10 crore to Rs 107.79 crore. Total expenditure was Rs 368.01crore. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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