Mangalore Chemicals & Fertilizers reports standalone net loss of Rs 8.36 crore in the June 2016 quarter
Shares of Mangalore Chemicals and Fertilisers Ltd (MCFL) today surged 20 per cent after the company reported Rs 15.35 crore standalone net profit for the quarter ended September 30.
The stock soared 19.98 per cent to Rs 63.35 -- its 52-week high -- on BSE.
At NSE, shares of the company jumped 19.98 per cent to end at Rs 63.65.
Zuari Group-controlled 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.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)