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Godavari Fertilizer turns black
HYDERABAD: The turnaround efforts undertaken last year enabled Godavari Fertilisers and Chemicals (GFCL) to achieve a 22 per cent growth in sales to Rs. 897 crores for the year ended March 31, 2004. Other income amounted to Rs. 6.42 crores (Rs. 5.42 crores). The net profit was Rs. 7.15 crores against a loss of Rs. 13.62 crores in the previous year.
According to a release, the turnaround efforts include rationalisation of product mix and discontinuance of loss making product lines, focus on key product of DAP, higher capacity utilisation and improved efficiencies, improvement in distribution and reduction in logistics cost, and better working capital management.
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