December 19, 2011


Indian KRIBHCO's urea production up 3%


India's Krishak Bharati Cooperative (KRIBHCO) on Tuesday (Dec 13) said its urea production increased by 3% to 1.84 million tonnes in the last fiscal year.


It had produced 1.78 million tonnes of the key nitrogenous fertiliser in the 2009-10 financial year, KRIBHCO said in a statement.


Besides urea, KRIBHCO also produces ammonia - used in producing liquid fertilisers - and seeds.


However, KRIBHCO's net profit after tax declined by 12% to INR2.005 billion

(US$37.8 million) in 2010-11 fiscal year against INR2.28 billion (US$43 million) in the 2009-10 financial year.


"The society declared a dividend at the rate of 20% for the year 2010-11 amounting to INR692.9 million (US$13.05 million) out of which INR203 million (US$3.8 million) is being paid to the government of India," KRIBHCO said.


KRIBHCO, which consists of 7,356 cooperative societies at national, regional and village level, is a leading producer of urea, bio-fertilisers and seeds.

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