MCF posts net loss of Rs 5.95 cr in Q4

Excerpt: Mangalore Chemicals and Fertilizers Ltd (MCFL) Tuesday reported a net loss of Rs 5.95 crore during the fourth quarter of the 2018-19 fiscal

Mangalore Chemicals and Fertilizers Ltd (MCFL) Tuesday reported a net loss of Rs 5.95 crore during the fourth quarter of the 2018-19 fiscal. The company had posted a net profit of Rs 20.30 crore in the corresponding quarter last year, according to a regulatory filing.

Net income rose to Rs 643.09 crore during January-March quarter of the 2018-19 fiscal from Rs 634.1 crore in the year-ago period. For the full 2018-19 fiscal, the company’s net profit declined to Rs 32.87 crore from Rs 60.58 crore in the previous year.

However, net income increased to Rs 3,073.63 crore from Rs 2,692.90 crore a year-ago in the same period. The company’s board has recommended a dividend of Re 1 per equity share of Rs 10 each for the 2018-19 financial year.

MCFL has a urea plant near the Mangalore port with an annual capacity of about four lakh tonne and three lakh tonne of phosphatic fertilisers. Its products are marketed under the ‘Mangala’ brand.

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