IFFCO records highest production, sales, profit, operations in FY 2019-20
Jul 15, 2020
New Delhi [India], July 15 : The Indian Farmers Fertilser Cooperative (IFFCO) said on Wednesday it posted the highest ever net profit after tax (PAT) of Rs 1,005 crore during the last fiscal year 2019-20.
It also posted the highest ever sales of fertilisers for 133 lakh tonnes despite the difficult and random market and weather conditions. IFFCO's group turnover in FY 19-20 stood at Rs 57,778 crore which was R. 50,908 in 2018-19," according to a statement.
IFFCO's total production of fertilisers increased to 91.42 lakh tonnes last fiscal year from 81.49 lakh tonnes in the previous year. Out of total fertilisers production in 2019-20, urea output was 48.75 lakh tonnes from 45.62 lakh tonnes last year. The production of DAP/NPK/WSF was 42.87 lakh tonnes in 2019-20 which was 35.87 lakh tonnes in the previous year.
IFFCO sold 133.31 lakh tonnes of fertilisers in the last fiscal year as against 115.56 lakh tonnes in 2018-19. Out of total sales, Urea stood at 86.31 lakh tonnes and DAP/NPK at 47 lakh tonnes in 2019-20. IFFCO also achieved its lowest composite energy consumption of 5.285 Gcal per MT which was 5.331 Gcal per MT in 2018-19.
"I am glad that IFFCO could achieve outstanding overall performance for the FY 19-20, which is indeed incredible to accomplish in a year severely affected by global and economic challenges," said Managing Director U S Awasthi.
"I am sure that our decision to implement multi-faceted initiatives to augment farmers' welfare and take them to the last mile across the country will contribute effectively to nation building and help to fulfill the vision of Prime Minister Narendra Modi of doubling the farmers' income by 2022."
