Nagarjuna Fertilisers net loss narrows to Rs 37.33 cr

Nagarjuna Fertilisers and Chemicals Ltd today reported a net loss of Rs 37.33 crore for the quarter ended June 30 due to rise in finance cost and shortage of availability of natural gas.
It had posted a net loss of Rs 48.06 crore in the April- June period of last fiscal.
The company said in a BSE filing that income from operations also declined to Rs 640.79 crore during the first quarter of the ongoing fiscal from Rs 658.97 crore in the year-ago period.
Its finance cost rose to Rs 93 crore from Rs 75 crore during the period under review.

"The major factors contributing to the loss during the quarter were i) shortage in the availability of natural gas ii) annual turnaround maintenance carried out for plant-II," said the Hyderabad-based Nagarjuna Fertilisers and Chemicals.