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State-run National Fertilizers Ltd (NFL) today reported a substantial decline in net loss to Rs 9.80 crore for the quarter ended March 31 on the back of the company's highest-ever urea sales.
The firm had reported net loss of Rs 107.04 crore in the same quarter of previous fiscal, the company said in a BSE filing.
Income from operations during the January-March quarter of FY'14 rose to Rs 1,991.53 crore from Rs 1,149.71 crore in the same quarter of previous fiscal.
For the entire FY'14, the company's net loss has also come down to Rs 89.71 crore from Rs 170.71 crore in FY'13.
The company's income from operations during FY'14 rose to Rs 8,029.09 crore from Rs 6,725.01 crore in the previous fiscal.
"There was a substantial decline in our net loss on the back of best-ever urea production of 36.36 lakh tonnes and best-ever urea sales of 36.87 lakh tonnes, including carry-over stocks," NFL Chairman and Managing Director Neeru Abrol said.
He added that during the year, NFL's capacity utilisation was 102 per cent and the company is aiming to end 2014-15 with a positive bottom line.
The mini-ratna fertiliser company has two manufacturing plants in Punjab and one each in Madhya Pradesh and Haryana with a combined capacity of 35.68 lakh tonnes per annum.
Shares of the company closed at Rs 37.65 today, up 0.40 per cent, on the BSE.
