FACT records Rs 236 cr. profit
Kochi, July 7 (UNI) Public sector Fertilisers and Chemicals Travancore (FACT) has registered a net profit of Rs 236 crore during 2005-6 and an increase of 17 per cent in sales revenue.
The implementation of a financial relief package by the Central Governmengt and strigent cost cutting coupled with maximisation of capacity utilisation had resulted in the turnaround of the ailing public sector, an FACT release said here today.
Sales revenue, which were Rs 1214 crore during 2004-05, had gone up to Rs 1422 crore during this year, an increase of 17 per cent.
Production of 'factamfos' registered an all-time increase with a total output of 745,902 tonnes as compared to 560,788 tonnes in the previous year, an increase of 33 per cent.
Sales of Factamfos also touched 789049 tonnes as compared to 530949 tonnes in the preceding year, an unprecedented increase of 48 per cent.
Total fertiliser sales also showed an impressive hike of 24 per cent at 970129 tonnes as against 784149 tonnes in 2004-05.
Capacity utilisation also showed an upward swing. Complex fertiliser plant of Cochin Division achieved a capacity utilisation of 124 per cent as compared to 97 per cent in the previous year.
The Udyogamandal division also registered increased capacity utilisation of the complex fertiliser plant 97 per cent as compared to 70 per cent in the previous year. Capacity utilisation in the Ammonia plant went up to 80 percent as against 71 per cent of preceding year.
There has been steady demand for Ammonium Sulphate in the domestic market as a result of which the entire production of 172986 tonnes was almost fully sold out in India with only a nominal export to foreign countries.
The Board of Directors of FACT which met at New Delhi today approved the financial results of the company for the year 2005-06.
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