Zuari Chemicals Q4 net loss at Rs 22.64 cr

Zuari Agro Chemicals today 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.