PPL turns black after a decade of losses

Bhubaneswar, Jul 20 (UNI) After a decade of losses, the Paradip Phosphate Limited (PPL), now a joint venture of Zuari Marco Phosphate Limited and OCP of Moroco, registered a net profit of Rs 12.7 crores during 2005-2006.

The Zuari Moroco Phosphate Limited took over the management of the Plant in March 2002 with a carry forward loss of nearly Rs.700 crores.

PPL Managing Director S S Nandurdikar told newsmen here yesterday that during these four years the company had invested nearly Rs.140 crores to take up several financial restructuring to make it turn around.

He said with the consistent focus on plant improvement and utilisation, PPL has been able to produce 12.58 lakh tonnes of DAP and complex fertilizers during 2005-2006.

Similarly the Sulphuric Acid production during the year also reached 7.35 lakh tonnes while the Phosphorioc Acid touched 2.58 lakh tonnes,he added.

The PPL, Mr Nandurdikar said the sales also touched a new height of 14.40 lakhs tonnes comprising 12.68 lakh tonnes of PPL's own produced fertilizers which put the company to continue to the second largest producer of phosphatic fertilizer occupying the number two share in the primary market areas.

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