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Chemicals and fertilisers maker, Chambal Fertilisers & Chemicals Ltd (CFCL) will set up a single super phosphate (SSP) plant at Dahej in Bharuch district of Gujarat. The plant will be set up at an approximate investment of Rs 122 crore with an annual capacity of 500,000 tonnes.
Additionally, the company is also setting up a SSP plant at its existing factory premises at Gadepan in Kota district of Rajasthan with an investment of about Rs 32.50 crore. The plant at Gadepan will have an annual capacity of 200,000 tonnes of capacity.
In a statement issued to the Bombay Stock Exchange (BSE), the company informed that the board of directors of the company has granted approval for the SSP plant.
At a meeting held on Tuesday, the board of directors of the company announced the company's second quarter financial results. The company has registered net profit of Rs 91.65 crore for the quarter ended September 30, 2011, up by about 6 per cent against Rs 86.06 crore registered in the corresponding period last year. Company's quarterly net revenues rose 7 per cent to Rs 1,638.28 crore in the second quarter from the Rs 1,535.06 crore registered in the corresponding quarter last year. Operating income stood at Rs 4 crore, compared with Rs 6.47 crore in the year-ago quarter.
For the half-year period (April - September) company's net profits stood at Rs 155.34 crore, 4 per cent up from Rs 150 crore in the same period last year.
Meanwhile, company's total revenues, including other operating incomes, rose by 121 per cent to Rs 2,806.69 crore from the Rs 2,502.06 crore in Q2FY11.