Revenue from operations jumped 25.5% year on year (YoY) to Rs 3,054.33 crore in the quarter ended 30 June 2023.

Total income stood at Rs 3,073.51 crore in Q1 FY24, up 25.7% from Rs 2,444.51 crore posted in Q1 FY23.

Total volumes of fertilizer produced stood at 6,40,784 MT, up by 126% compared to that of Q1 last year. Total sales of fertilizer was 6,21,755 MT, up by 81% YoY.

The company said that its site produced 3,53,020 MT of finished fertilizers, registering a growth of 32% YoY.

The company reported pre-tax loss of Rs 159.29 crore in Q1 FY24 as compared to profit before tax of Rs 84.87 crore recorded in Q1 FY23.

Paradeep recorded negative EBITDA of Rs 19 crore in the first quarter of FY24.

Q1 FY24 EBIDTA and PBT were impacted by the retrospective subsidy adjustment and partly by a carry forward of high cost raw-material. The net onetime adjustment taken is Rs 305 crore. Sans the adjustment, EBIDTA would be 285 crore.

Total expenses spiked 37% YoY to Rs 3,232.27 crore during the quarter. Cost of raw materials consumed was at Rs 2442.80 crore (up 57.45% YoY) and Employee benefits expense stood at Rs 58.24 crore (up 29.14% YoY) during the period under review.

Paradeep Phosphates (PPL) is one of India's largest private sector phosphatic companies, producing a wide range of phosphatic grades. It currently has a total capacity of 3 million MT, of which 0.4 million MT is Urea and the balance 2.6 million MT is phosphates. The company's products are marketed under the brand names of "Jai Kisaan" and "Navratna".