India's Deepak Fertilisers Q4 profit nearly halves on rising input costs
India's Deepak Fertilisers Q4 profit nearly halves on rising input costs May 28 (Reuters) - India's Deepak Fertilisers DPFE.NS on Thursday reported fourth-quarter profit that nearly halved, as margins were squeezed by rising raw material costs despite firm demand for its fertilizers and agricultural chemicals.
Here are some key details:
The fertilizer maker's consolidated net profit fell to 1.39 billion rupees ($14.53 million) for the quarter ended March 31 from 2.77 billion rupees a year ago.
The firm said margins were impacted by an escalation in raw material costs due to the ongoing Middle-East conflict, coupled with inadequate subsidy support.
Quarterly earnings were also impacted by a one-time impairment charge related to a planned maintenance operation at its ammonia plant in Maharashtra.
The Pune-based firm's mainstay fertilizers segment grew 14%, while the chemicals segment climbed 11.7%.
Revenue rose 12.9% to 30.11 billion rupees, while expenses rose 19.2%.
($1 = 95.6863 Indian rupees)
(Reporting by Mridula Kumar in Bengaluru; Editing by Eileen Soreng)
((mridula.kumar@thomsonreuters.com))
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Brief: Deepak Fertilisers And Petrochemicals Corp Q4 Consol Net Profit 1.39 Billion Rupees