Fertilizers and Chemicals Travancore (FACT) has continued to perform well even under difficult financial circumstances, with the public sector company recording an actual production of 6.33 lakh tonnes of Factamfos between April and December this financial year against the targeted 5.09 lakh tonnes.
Ammonium sulphate production stood at 1.58 lakh tonnes against the target of 1.32 lakh tonnes, said a communication from the company.
The performance compares well with the April-December period 2018 when the actual production was 4.32 lakh tonnes for Factamfos and less than one lakh tonnes for ammonium sulphate.
The increase in production during the period under consideration this year is 47%, the communication added.
On the marketing front, FACT sold 6.18 lakh tonnes of Factamfos during the period against the target of 5.09 lakh tonnes, an improvement of 31% compared to the same period during the previous year. Ammonium phosphate sale stood at 1.67 lakh tonnes against the target of 1.32 lakh tonnes.
The communication also said FACT recorded a profit of over ₹982 crore after considering profit on sale of land to the State Government. The land sale accounted for ₹970 crore of income from 481.7 acres.
The profit for the quarter ended December 31 last calendar year (before considering income from land sale) stood at ₹12.66 crore as compared to the profit of ₹6.26 crore during the previous quarter ending September 30, the communication added. The same quarter had seen a loss of over ₹49 crore during the previous financial year.
One of the recent highlights of the company’s marketing operations has been the efforts to extent fertilizer sale operations across India. Marketing network has been expanded in West Bengal, Orissa, Maharashtra, and Gujarat, the the company said.
FACT launched its marketing efforts in Maharashtra through Rashtriya Chemicals and Fertilizers in January.
