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Zuari Chemicals Q4 net loss at Rs 22.64 cr

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

May 13, 2016 / 17:57 IST
     
     
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    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.

    first published: May 13, 2016 05:36 pm

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