Moneycontrol
Oct 19, 2016 03:54 PM IST | Source: Moneycontrol.com

Mangalore Chemicals turns corner, Q2 profit at Rs 15.4 cr

Mangalore Chemicals and Fertilisers turned profitable in July-September quarter on strong operational performance despite revenue degrowth. Profit for the quarter stood at Rs 15.4 crore against loss of Rs 19.4 crore in year-ago period.

 
 
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Moneycontrol Bureau


Mangalore Chemicals and Fertilisers turned profitable in July-September quarter on strong operational performance despite revenue degrowth. Profit for the quarter stood at Rs 15.4 crore against loss of Rs 19.4 crore in year-ago period.


Total income from operations fell 5.6 percent to Rs 848.4 crore in the quarter ended September 2016 compared with Rs 898.3 crore in same period last year.


EBITDA (earnings before interest, tax, depreciation and amortisation) stood at Rs 61.2 crore during the quarter against EBITDA loss of Rs 0.5 crore in corresponding period of last fiscal due to fall in operating cost like power & fuel, raw material cost and other expenses.

At 14:53 hours IST, the scrip of Mangalore Chemicals was locked at 20 percent upper circuit at Rs 63.35 amid high volumes on the BSE.

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