Khaitan Chemicals Q1 profit up 259%

NEW DELHI: Capital-based Khaitan Chemicals and Fertilisers reported a 259 per cent increase in its profit before tax at Rs 3.2 crore for quarter ended June 30 against Rs 89 lakh in the year-ago period.

Turnover rose by 25 per cent to Rs 60.86 crore compared to Rs 48.80 crore in the same period of last year, company said in a statement.

The company Chairman Shailesh Kumar termed quarterly performance as "very satisfying" for the largest manufacturer in Single Super Phospphate (SSP) industry.

The company, which has an annual capacity of 8.47 lakh tonne of SSP and 2.21 lakh tonne of sulphuric acid, has also acquired a sister concern of another solvent extraction plant having 2,40,000 tonne per annum capacity in Madhya Pradesh.

The acquired plant also has 18,000 tonne capacity refinery that produces value added products like lecithin, soya flour, nuggets, vanaspati.