Fertilizers and Chemicals Travancore Ltd, (FACT) reported a net loss of ₹68 crore in Q3, as against a profit of ₹8 crore in the corresponding quarter last year, reflecting pressure on operating performance during the period.
Despite the bottom-line decline, the company posted a strong top-line showing, with revenue rising 65% year-on-year to ₹1,567.8 crore from ₹949.4 crore. However, profitability remained under strain, as FACT recorded an EBITDA loss of ₹42.9 crore, compared with an EBITDA profit of ₹32.5 crore in Q3 of the previous year.
Segment-wise, the fertiliser business slipped into losses at ₹39.23 cr, compared with a profit of ₹34.25 cr year ago, while the petrochemical segment reported a loss of ₹13.18 cr, narrower than the ₹14.78 cr loss in the corresponding quarter last year.
The company said it has also considered the statutory impact of the New Labour Codes and has provided ₹65 lakh based on actuarial assumptions toward employee benefit expenses.
Shares of Fertilizers and Chemicals Travancore Ltd ended higher on Wednesday, January 28, by 3.88% at 824.00 on the NSE.
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