NAGARJUNA FERT NET PROFIT UP 4%

Article Abstract:

Nagarjuna Fertilizers and Chemicals Ltd has increased its net profit by 4 percent to Rs38.33 crore in the second quarter of 1998-99 against Rs36.88 crore in the second quarter of 1997-98. Its turnover grew by 23 percent to Rs354.21 crore against Rs287.85 crore. The company's net profit increased to Rs71.45 crore in the first half of 1998-99 against Rs63.10 crore in the first half of 1997-98. Its production increased to 5.27 lakh tonnes in the first half of 1998-99 against 3.56 lakh tonnes in the first half of 1997-98. The increase in turnover is due to additional production from its second plant. (khr)

Comment:

Nagarjuna Fertilizers and Chemicals Ltd has increased its net profit.

Sales, profits & dividends, Agricultural Chemicals, Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing

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NAGARJUNA FERT SEEKS Rs100 Cr LOAN FROM IDBI

Article Abstract:

Nagarjuna Fertilisers has obtained a loan of Rs100 crore from the Industrial Development Bank of India (IDBI) to repay the Rs179 crore that it owe to the Indian government. This is because the Union Ministry of fertilisers and chemicals decided that the company had been paid excess subsidy of about Rs180 crore in the last five years. The government asked the company to refund the amount. The loan will be given at the prime lending rate plus two percent. It will be repayable in 20 equal installments after an year long moratorium period. (uh)

Contracts & orders received, All Other Nondepository Credit Intermediation, Use of Funds, Development Banks, Industrial Development Bank of India Ltd., Nagarjuna Fertilisers

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