MCFL posts Rs 15 cr net profit in July-Sep quarter

Zuari Group controlled Mangalore Chemicals and Fertilisers Ltd (MCFL) today reported Rs 15.35 crore standalone net profit for the quarter ended September 30, on lower expenditure.
The company had posted a net loss of Rs 19.43 crore in the year-ago period, MCFL said in a regulatory filing.
Net sales fell to Rs 848.44 crore during July-September period of this fiscal as against Rs 898.29 crore in the corresponding period of the previous year.
Total expenses also declined to Rs 796.22 crore during the second quarter of this fiscal from Rs 906.29 crore in the year-ago period.
Saroj Poddar-led Zuari group has 53.03 per cent in MCFL while Vijay Mallya led UB group has nearly 22 per cent stake.

MCFL has a urea plant near Mangalore port with an annual capacity to produce about four lakh tonnes of urea and about three lakh tonnes of phosphatic fertilisers.