Rashtriya Chemicals and Fertilizers Ltd., or RCF, manufacturer of fertilizers in India, announced financial results for the fourth-quarter, reporting a lower net profit, despite increase in revenues.
Mumbai-based company posted fourth-quarter net profit of Rs.39.37 crore or Re.0.71 per share, 23% lower than Rs.51.37 crore or Re.0.93 per share in the fourth-quarter of 2008.
The company's quarter net revenue from operations rose 44% to Rs.1,912.88 crore from Rs.1,329.51 crore in the year-ago quarter, while other income amounted to Rs.25.69 crore, compared with Rs.31.52 crore in the previous year quarter.
During the quarter, revenue from Trombay segment grew 47% to Rs.385.62 crore from Rs.262.23 crore in the corresponding quarter last year, while revenue from Thai segment declined 12% to Rs.624.49 crore from Rs.710.59 crore in the prior year quarter. Revenue for the quarter from Trading segment increased 153% to Rs.902.77 crore from Rs.356.69 crore in the corresponding quarter last year.
During the quarter, the company has commissioned the Argon plant at Thai.
For the fiscal year, the company's net profit totaled Rs.211.58 crore, up 34% from Rs.158.15 crore in 2008.
Net revenue for the year grew 63% to Rs.8,365.98 crore from Rs.5,140.27 crore a year-ago, while other income was Rs.83.11 crore, compared with Rs.80.68 crore in the previous year.
The company said its board has recommended a final dividend of 12% or Re.1.20 per equity share of Rs.10 each for the fiscal year 2009.
At the BSE, RCF closed Tuesday's trading at Rs.83.25, down by Rs.3.25 or 3.76% on a volume of 26.07 lakh shares.
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