Zuari Agro Chemicals Q4 net loss at Rs 6.65 crore
Zuari Agro Chemicals today reported a standalone net loss of Rs 6.65 crore for the fourth quarter of the 2012-13 fiscal.
By PTI |
NEW DELHI: Fertiliser and seeds company Zuari Agro Chemicals today reported a standalone net loss of Rs 6.65 crore for the fourth quarter of the 2012-13 fiscal on account of poor sales and higher financial costs.
The company had clocked a net profit of Rs 56.56 crore in the same quarter corresponding year, it said in a BSE filing.
Net income declined sharply to Rs 1,043.43 crore in the fourth quarter of the 2012-13 fiscal, as compared with Rs 2,577.6 crore in the same period last year.
Though the company's expenses remained significantly lower at Rs 994.99 crore as against Rs 2,459.11 crore in the review period, the financial costs rose to Rs 58.65 crore from Rs 46.97 crore in the same period.
During the 2012-13 fiscal, the company posted a consolidated net profit of Rs 64.30 crore, as against Rs 164.42 crore in the previous year.
Net income declined to Rs 7,959.14 crore from Rs 8,291.61 crore in the review period.
The company said the results for 2012-13 fiscal cannot be compared with the last year's figure as the fertiliser business of Zuari Global Ltd was demerged into this company. Accordingly, the previous year's figure contain the result of the fertilser business for a period of nine months.
It also informed that the operation of Diammonium phosphsate (DAP) plants, which remained shutdown since December 2012, continue to remain suspended and will start once the market situation improves.
Ammonium and urea plants are also shutdown since last month for annual maintenance.
The company, part of the Adventz group, has a manufacturing facility at Goa, with four plants dedicated to manufacturing of urea, DAP and NPK based fertilisers.
Zuari's fertiliser plants have an annual installed capacity of 9,46,000 tonnes. Its ammonia plant has an installed capacity of 660 tonnes per day, while, the urea plant is a single stream plant and has a capacity of 1,140 tonnes per day.
Shares of the company fell by 2.69 per cent to settle at Rs 139.10 on the BSE today.
The company had clocked a net profit of Rs 56.56 crore in the same quarter corresponding year, it said in a BSE filing.
Net income declined sharply to Rs 1,043.43 crore in the fourth quarter of the 2012-13 fiscal, as compared with Rs 2,577.6 crore in the same period last year.
Though the company's expenses remained significantly lower at Rs 994.99 crore as against Rs 2,459.11 crore in the review period, the financial costs rose to Rs 58.65 crore from Rs 46.97 crore in the same period.
During the 2012-13 fiscal, the company posted a consolidated net profit of Rs 64.30 crore, as against Rs 164.42 crore in the previous year.
Net income declined to Rs 7,959.14 crore from Rs 8,291.61 crore in the review period.
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The company said the results for 2012-13 fiscal cannot be compared with the last year's figure as the fertiliser business of Zuari Global Ltd was demerged into this company. Accordingly, the previous year's figure contain the result of the fertilser business for a period of nine months.
It also informed that the operation of Diammonium phosphsate (DAP) plants, which remained shutdown since December 2012, continue to remain suspended and will start once the market situation improves.
Ammonium and urea plants are also shutdown since last month for annual maintenance.
The company, part of the Adventz group, has a manufacturing facility at Goa, with four plants dedicated to manufacturing of urea, DAP and NPK based fertilisers.
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Zuari's fertiliser plants have an annual installed capacity of 9,46,000 tonnes. Its ammonia plant has an installed capacity of 660 tonnes per day, while, the urea plant is a single stream plant and has a capacity of 1,140 tonnes per day.
Shares of the company fell by 2.69 per cent to settle at Rs 139.10 on the BSE today.
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