Mangalore Chemicals & Fertilisers posts Q1 loss of Rs 12.49 crore

NEW DELHI: Mangalore Chemicals and Fertilisers (MCF) today posted a loss of Rs 12.49 crore for the quarter ended June 30, 2012.

The company had posted a net profit of Rs 29.70 crore in the year-ago period, it said in a filing to the BSE.

The standalone net sales of the company rose to Rs 597.75 crore in the first quarter of this fiscal from Rs 583.45 crore in the same quarter of the 2011-12 fiscal.

"Profitability in the current quarter was adversely affected due to predominantly mark to market forex provision for imported raw materials and fertiliser, erratic supply of phosphoric acid resulting in lower phosphatic production and urea plant shut down for over a fortnight, due to stoppage of water supply by Mangalore City Corporation," the filing said.

The total expenses of the company rose to Rs 607.46 crore in the April-June quarter in 2012-13 as against Rs 549.49 crore in the same quarter in 2011-12.