Zuari Agro Chemicals on May 13 reported a net loss of Rs 22.64 crore for the March quarter due to lower income from operations.
The company had posted a net profit of Rs 11.16 crore during the same period in financial year 2014-15.
Total income from operations declined to Rs 1,273.60 crore during January-March quarter of the 2015-16 fiscal, as against Rs 1,538.76 crore in the same quarter last fiscal, the company said in a regulatory filing.
For full fiscal, the Zuari group firm has reported a net loss of Rs 91.01 crore due to higher finance cost.
It had posted a net profit of Rs 8.97 crore in 2014-15.
Zuari Agro Chemicals has received a demand of Rs 52.93 crore from GAIL toward take or pay obligation. The company is in discussion with GAIL to reduce/waive the take or pay charges, the filing added.
Shares of the company today closed 1.72 per cent down at Rs 193.80 apiece on BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.