Chambal Fertilisers and Chemicals Ltd reported a marginal decline of 0.9 percent in its consolidated net profit for the April-June quarter, amounting to ₹338.60 crore. This drop was attributed to poor sales during the period.
Comparatively, the company had achieved a net profit of ₹341.71 crore in the same quarter of the previous fiscal year, as per the information provided in a regulatory filing.
On a consolidated basis, the total income of the firm experienced a significant decrease of 23.34 percent, reaching ₹5,589.28 crore in the first quarter of the current fiscal, down from ₹7,291.18 crore in the corresponding period of the previous year.
Chambal Fertilisers and Chemicals attributed the decrease in revenue to lower gas prices, even though there were higher volumes of urea during the first quarter. Additionally, lower volumes and prices of phosphatic and potassium fertilisers contributed to reduced revenue in those segments.
Expenses for the first quarter were notably lower at ₹5,087.96 crore, compared to ₹6,821.97 crore during the same period in the previous year.
The company's consolidated financial results include the financial details of its four subsidiaries.
For the June 2023 quarter, the reported consolidated numbers for Chambal Fertilisers and Chemicals are as follows:
- Net Sales: ₹5,589.28 crore, a 23.34% decrease from ₹7,291.18 crore in June 2022.
- Quarterly Net Profit: ₹338.64 crore, a 0.93% decrease from ₹341.82 crore in June 2022.
- EBITDA: ₹642.25 crore, a 5.61% increase from ₹608.13 crore in June 2022.
- Earnings Per Share (EPS): ₹8.14 in June 2023, down from ₹8.21 in June 2022.
In summary, Chambal Fertilisers and Chemicals Ltd experienced a slight drop in consolidated net profit for the April-June quarter due to poor sales, resulting in reduced revenue. The company cited factors such as lower gas prices and decreased volumes and prices of certain fertilisers as contributing to this decline.