Rashtriya Chemical & Fertilizers (RCF) surged 12.75% to Rs 45.10 after consolidated net profit surged 202% to Rs 142.38 crore on 15% increase in net sales to Rs 2606 crore in Q4 March 2020 over Q4 March 2019.
Profit before tax stood at Rs 200 crore in Q4 March 2020, surging 146% from Rs 81.38 crore in the same period last year. Total tax expenses rose 69% to Rs 57.85 crore in Q4 March 2020 over Q4 March 2019. The result was announced after market hours on Friday, 29 May 2020.
Commenting on future outlook, RCF said, "Going forward, the farming sector is expected to get help from a good monsoon forecast in FY 2020-21. In the ongoing current Covid-19 pandemic, the company is fully geared up to face the upcoming challenges and ready to capitalize on the opportunities coming its way."
RCF is a fertilizer and chemical manufacturing company. The firm manufactures urea, complex fertilizers, bio-fertilizers, micro-nutrients, water soluble fertilizers, soil conditioners and a range of industrial chemicals.
As of 31 March 2020, the Government of India held 75% stake in the company.
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