Zuari Agro Chemicals reports Rs 98 crore loss in Q1

NEW DELHI: Zuari Agro Chemicals Ltd today reported a loss of Rs 98.34 crore in the first quarter ended June 30 due to fall in sales and depreciating value of rupee.

However, the company had clocked a net profit of Rs 7.62 crore in the same quarter a year ago.

Total income fell by 38 per cent to Rs 729.60 crore during the April-June period of this financial year from Rs 1,176.74 crore in the same period last year, the company said in a filing to the BSE.

Profits were hit as company's sale fell to Rs 727.10 crore from Rs 1,176.72 crore during the period under review.

The depreciating value of rupee in June also affected profits as it put an additional burden of Rs 60.86 crore on the company during the quarter.

The company's complex fertiliser plant was operational for only 19 days during the quarter, the filing added.

The shares of the company fell 3.25 per cent to Rs 89.25 apiece on the BSE today.