Mangalore Chemicals and Fertilisers Limited (MCF), a UB Group company, on Thursday reported 21.5% decline in net profit at Rs 16.84 crore for the fourth quarter ended March 31, 2013 compared to Rs 21.46 crore reported in the same quarter last fiscal. Its net sales during the quarter were down 36% to Rs 649.80 crore as against Rs 1,014.66 crore in the same quarter last fiscal.
The operating profit was also down 38% to Rs 46.37 crore as against Rs 74.47 crore in the year ago quarter.
"Severe drought in company's operating territories during Kharif and Rabi seasons as well as sharp increases in prices of non urea fertilisers has adversely affected demand for products during the last fiscal," the company said in a statement.
