Mangalore Chemicals posts net profit of Rs 11 crore for June quarter

Mangalore Chemicals and Fertilisers Ltd (MCFL) on Thursday posted a net profit of Rs 11.01 crore for the quarter ended June.

The company had reported a net loss of Rs 4.64 crore in the same quarter of previous fiscal, according to the regulatory filing.

Net income declined to Rs 535.34 crore in the April-June quarter from Rs 746.10 crore in the year-ago period.

Expenses in the said period also remained lower at Rs 517.68 crore as against Rs 745.97 crore in the year-ago quarter.

Shares of the company settled lower 0.14 per cent at Rs 35.80 apiece on the BSE.