FACT comes out of red; posts Rs 585 lakh profit
The public sector Fertilisers and Chemicals Travancore Limited has come out of the red for the first time after several years and posted a reasonably good profit of Rs 585 lakh for the quarter ended September 30, a company statement said today.
The company which has been facing adverse financial conditions for a long time could weather all adversities with better production, marketing and sales turnover during July-September 2017 which helped FACT post a reasonably good profit, it said.
The company said total sales turnover for this quarter went up to Rs 607.43 crore as against Rs 296.47 crore of the preceding quarter (April-June 2017).
Production and sales performance of FACT during the last few months also have improved substantially with all-time record production of Ammonium Sulphate and Sulphuric Acid in the Udyogamandal Complex, it said.
"Production of Factamfos and Ammonium Sulphate surpassed the respective targets set for the products. While the production target for Factamfos during July-September was 1.98 lakh tonnes, the actual turnout touched 2.08 lakh tonnes," the company said.
Same level of improved production was achieved in the case of AmmoniumSulphate also with a total production of 58500 tonnes as against the target of 44500 tonnes, it said.
FACT's Marketing Division also put in a highly commendable performance during July-September period with record performance.
While the sale of Factamfos during August 2017 was a record in 15 years with a total outflow of 76076 tonnes, total sale during the quarter also beat the target set for the period.
Though the sales target for the quarter was 1.98 lakh tonnes of Factamfos, actual sales stood at 2.08 lakh tonnes, the company said.
FACT could also sell out a total of 1,21,930 tonnes of gypsum also during July-September quarter. Meanwhile, as a major step aimed at reducing import of raw materials, FACT has signed a Memorandum of Understanding with BPCL Kochi Refinery for supply of Sulphur.
As per this understanding, KRL will supply sulphur to FACT to meet 60 per cent of its requirements for the next five years.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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