Chambal Fertilisers and Chemicals Ltd today posted a manifold jump in its net profit to over Rs 96 crore in the third quarter of the current fiscal on the back of robust sale of fertiliser products.
The company had clocked a net profit of only Rs 1.04 crore in the same quarter last year.
In a filing to the Bombay Stock Exchange, Chambal Fertilisers and Chemicals Ltd (CFCL) said its net income rose to Rs 2,088.54 crore in the quarter ended December 31, last year, from Rs 1,784.84 crore in the year-ago period.
The biggest increase in sales was seen in fertiliser segment where income soared to Rs 1,024.59 crore from Rs 808 crore, while income from textile business increased to Rs 91.30 crore from Rs 84.82 crore in the review period.
However, income from the shipping business fell significantly from the year-ago period. During the quarter, the company said it made further investment of Rs 21.12 crore in its wholly-owned subsidiary -- CFCL Overseas Ltd, Cayman Islands.
It also mentioned that the Board of Directors has approved setting up of new urea plant at the existing site in Kota district of Rajasthan with an annual capacity of 1.3 million tonnes of urea.
The company's scrip settled up by two per cent at Rs 66.6 on the BSE platform. Apart from fertilisers, Chambal is also into agri-inputs, shipping textiles, software and infrastructure.