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Mumbai, Apr 30: Rashtriya Chemicals and Fertilizers (RCF) Ltd, a government of India undertaking, has achieved the highest ever turnover of Rs 2,050 crore for the financial year 1998-99, registering an increase of 18 per cent and maintaining the same high growth rate achieved for the past three years.
The company has also recorded the highest turnover in its industrial products division at Rs 216 crore against Rs 213 crore during the previous year, despite severe recession in the sector.
Announcing the fiscal year's result, RCF chairman and managing director DK Varma told mediapersons here on Thursday that units at Trombay and Thal in Raigad district have achieved the highest turnover of over Rs 2,000 crore during the financial year 1998-99.
The company registered an operating profit of Rs 358.07 crore compared to Rs 321.98 crore in the previous year. The profit before tax is Rs 274.55 crore as against Rs 258.86 crore achieved in the previous year. The company considered to make provision against thelong outstanding intercorporate loans to the extent of Rs 87.06 core, thus the net profit before provision of tax worked out to Rs 187.49 crore. The net profit after tax has also shown improvement at Rs 198.55 crore as against Rs 189.37 crore in the previous year.
The company has registered a 15 per cent growth in fertilizer sales by achieving a record of 27.29 lakh tonnes as compared to 23.48 lakh tonnes in the previous year. The sale of industrial products have also been enhanced to 0.92 lakh tonnes from 0.89 lalk tonnes. The company sold 1.5 lakh tonnes of imported urea and 2.14 lakh tonnes of DAP/MOP during 1998-99. The total production of fertilizers from both the units of the company stood at 23.09 lakh tonnes as compared to 22.97 lakh tonnes in the previous year. The production performance could have been even better but for severe gas limitation, particularly at Thal unit, he said.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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