Mangalore Chem Q3 net up, sees volumes picking up ahead

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Mangalore Chem Q3 net up, sees volumes picking up ahead

UB Group owned Mangalore Chemicals and Fertilizers has reported its results for the third quarter of FY10. Revenues were down 11% YoY, while PAT rose 33% versus the same quarter last year. In an interview with CNBC-TV18, Deepak Anand, MD, Mangalore Chemicals and Fertilizers spoke on the quarter gone by and the road ahead.

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UB Group owned Mangalore Chemicals and Fertilizers has reported its results for the third quarter of FY10. Its revenue was down 11% from Rs 666 crore a year ago to Rs 596 crore. Operating profit margins were at 8% versus 7% a year ago, while profit after tax was up 33% at Rs 24.2 crore versus Rs 18.2 crore in the same quarter last year. Raw material costs were down to Rs 263.7 cr as against Rs 447 crore YoY. Interest costs fell to Rs 7.32 crore as opposed to Rs 13.4 crore in the same period last year.

In an interview with CNBC-TV18, Deepak Anand, MD, Mangalore Chemicals and Fertilizers spoke on the quarter gone by and the road ahead.

Here is a verbatim transcript of the interview. Also watch the accompanying video.

Q: What happened to your revenues because they have gone down by about 11%?

A: Basically there has been a drop in raw material prices, feedstock prices. Our revenues as you are aware are dependent on the prices of feedstock, which in our case is Naphtha or Phosphoric Acid.

Both these are much lower than they were in the same quarter previous year. So that reflects in the revenue. It doesn't affect our PAT at all because the PAT is not really dependent on the revenue as far as urea and DAP (Di Ammonium Phosphate)are concerned.