Chambal Fertilisers’ Q4 profit more than doubles to ₹203 cr

MUMBAI: Chambal Fertilisers and Chemicals Ltd more than doubled its stand-alone net profit in the March quarter to ₹203.7 crore from ₹91.87 crore a year earlier.

Profit in the financial year ended March 31 surged to ₹1,224.31 crore from ₹545.27 crore in FY19, as the company gained from a one-time deferred tax credit. Annual revenue jumped 21% year-on-year (y-o-y) to ₹12,205.95 crore, while annual Ebitda before exceptional items grew 54% y-o-y to ₹2,081.77 crore, the firm said.

“The company’s performance in the FY20 has been outstanding as compared to the last year and the best ever in the history of the company,” said Anil Kapoor, MD, Chambal Fertilisers. “Our newly commissioned urea plant achieved the rated capacity during the first full year of operation,” he said.

The firm expects the farming sector to likely get a boost in FY21 with the forecast of a good monsoon. It also expects normal production in all its plants.

Consolidated net profit for the March quarter rose to ₹188.06 crore from ₹97.93 crore a year earlier, though revenue from operations fell 25% y-o-y to ₹1,969 crore.