Deepak Fertilisers and Petrochemicals Q3 PAT up 23 pc

MUMBAI: Deepak Fertilisers and Petrochemicals Corporation Ltd today said its net profit rose by 23 per cent to Rs 49.65 crore in the quarter ended December 31, 2011, but profitability was affected by a weak rupee.

The company had reported a profit after tax (PAT) of Rs 40.26 crore for the year-ago period, it said in a statement.

"Profitability was impacted adversely to the extent of Rs 22 crore by rupee depreciation," DFPCL said.

Total income of the company grew by 60 per cent to Rs 601.49 crore in the third quarter of the current fiscal from Rs 375.03 crore in the same quarter of the previous fiscal, it said.

The rise in income was driven by the strong increase in both self-manufactured fertilisers and chemicals, the statement added.

The Pune-based manufacturer of complex fertilisers also produces speciality chemicals and bio-fertilisers, among other products.

Shares of the company rose by 4.76 per cent to settle at Rs 138.60 on the BSE today.