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Zuari Agro Chemicals' volumes remained intact during the third quarter but drop in international prices leading to lower prices here caused a topline decline, said MD & Group CEO Kapil Mehan in an interview to CNBC-TV18.
Two droughts did impact the company revenues but they expect a recovery on back of a normal monsoon, said Kapil Mehan, MD & Group CEO, Zuari Agro Chemicals.
The company‘s standalone revenue fell 22 percent to Rs 1,105 crore and operational efficiency (EBITDA) reduced 62 percent to Rs 27.7 crore in the quarter ended December 31.
In an interview to CNBC-TV18, Kapil Mehan, MD & Group CEO of Zuari Agro Chemicals spoke about company's results for this quarter.
Zuari Agro Chemicals posted an impressive quarterly numbers. Kapil Mehan, MD & Group CEO of the company spoke about the turnaround strategy and gameplan going forward.
Discussing the results, Deepak Anand, MD, Mangalore Chemicals & Fertilizers, said that rupee stability led to lower MTM losses during the quarter.
If there is no supplementary Budget, this year's subsidy amounts that will be due from the government at the end of the year will be a frightening Rs 1,500 crore