CFL crosses Rs 2000 crore mark

Chennai, May 3 (UNI) Coromandel Fertilisers Limited (CFL) has achieved new records both in terms of production and sale of complex fertilisers with the turnover crossing the Rs 2,000 crore mark.

According to a release here today, during the year the company had achieved a total income of Rs 2084.22 crore, registering a growth of about 11 per cent over previous financial year.

The profit before depreciation, interest and taxes for the year was Rs 218.12 crore reflecting an increase of 24 per cent over previous year.

The profit before tax had gone up to Rs 146.35 crore in 2006-07 compared to Rs 115.36 crore in 2005-06, a rise of over 27 per cent.

The profit after tax for the year was Rs 100.74 crore registering a growth of 20.57 per cent over last year.

The improved performance was mainly due to higher production/sales volume, improved operational efficiencies especially on the energy front, reduction in conversion/distribution costs, the release said adding the financing cost was higher due to delay in settlement of subsidy dues by the Union Government, which led to an increase in working capital borrowings.

UNI