Paradeep Phosphates plans Rs600 crore outlay for capacity expansion projects
23 Aug 2012
Buoyed by an increase of 8.39-per cent in gross profit to Rs259.26 crore in 2011-12, fertiliser major Paradeep Phosphates Ltd (PPL) has earmarked around Rs600 crore for the launch many new projects for expansion of capacity.
PPL managing director S S Nandurdikar told reporters in Bhubneshwar, the company grossed a Rs259.26 crore profit before tax in 2011-12 as against Rs239.18 crore in the previous year, registering an increase of 8.39 per cent.
Similarly, profit after tax during last fiscal was up at Rs177.71 crore from Rs177.08 crore in the previous year, an increase of 0.35 per cent.
Admitting that the rise, was small due to factors like tax credit and certain relief available in 2010-11, he explained however, that the performance of the company had been encouraging.
Pointing out that the total turnover in the last fiscal stood at Rs4,700.14 crore, Nandurdikar said, despite problems of raw materials availability due to logistics issues, PPL's output stood at 10.2 lakh tonne of fertilisers comprising 6 lakh tonne of DAP and 4.2 lakh tonne of complexes of NPK.
Among intermediary products, sulphuric acid and phosphoric acid production stood at 6.3 lakh tonne and 2.1 lakh tonne, respectively.
