Indian Potash Ltd Reports Resilient Profit Growth Amid Revenue Decline in FY24

21 October 2024

• Revenue Takes a Hit: Indian Potash Ltd's FY24 revenue plunged by 35%, falling from ₹34,010.73 crore to ₹22,033.63 crore, mainly due to lower sales volumes and subsidy cuts.
• Sales Volume Slump: The company sold 5.9 million tonnes of potash, down 15% from last year's 6.9 million tonnes.
• Challenges Behind the Drop: A mix of reduced government subsidies and raw material price swings weighed heavily on performance.
• Profit Still Climbs: Despite the revenue dip, Indian Potash managed to grow its Profit Before Tax by 2%, reaching ₹1,040.27 crore, showcasing strong cost controls.
• Net Profit Boost (Standalone): Profit After Tax also rose by 3% to ₹777.33 crore, proving operational resilience in tough conditions.
• Consolidated Struggles: On the flip side, the consolidated net profit saw a 33% drop year-on-year, highlighting the pressure on the broader business.