RCF turnover touches Rs 3559.62 crore

By Staff
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Google Oneindia News

Mumbai, July 7: Rashtriya Chemicals and Fertilizers (RCF) has crossed the Rs 3,500-crore turnover mark for the first time by touching Rs 3559.62 crore during the financial year ended March 31 as against Rs 3102.09 crore in the previous year.

Chairman and managing director Uday S Zha, speaking to reporters after the 29th annual general meeting here yesterday, said, ''The net profit before tax was at Rs 241.24 crore as against Rs 215.67 crore of the previous year. The company has maintained the dividend rate at ten per cent.'' The turnover of the Company is expected to rise further, he added.

The Company, he said, has entered the realm of trading in a big way. It has secured the award for handling Urea, imported on government account, at two major ports, Kandla and Tuticorin. The Company is expected to handle about 12 to 14 lakh tonnes at these ports, he said.

The RCF, he said, has plans to initiate several projects in the XIth Plan Period at an estimated cost of about Rs 10,000 crore.

''In order to increase fertilizers production, the Central Government has envisaged revival of several units that were closed down previously. The RCF has identified two such units, one at Durgapur in West Bengal and another at Talcher in Orissa -- which could give RCF a market presence in the eastern region,'' Mr Zha said. He said around Rs 6,000 crore would be required to revitalise these two units.

UNI

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