Chambal Fertilisers Q2 net down 14% at Rs 94 cr

Company clocked net profit of Rs 110 crore in the year-ago period

Chambal Fertilisers and Chemicals today posted 14% drop in net profit at Rs 94.17 crore in the second quarter of the current fiscal due to higher financial cost.

The company had clocked net profit of Rs 109.53 crore in the year-ago period, Chambal said in a filing to the BSE.

The performance took a beating as the company's financial cost increased to Rs 43.51 crore in the quarter ended September 30 from Rs 25.70 crore in the same period last year.

Chambal's net income, however, increased to Rs 2,490.27 crore from Rs 2,341.76 crore in the year-ago period.

During the second quarter, subsidy on phosphatic and potassic fertilisers has been accounted for as per concession price notified by the government effective from April 1, 2013, the company added.

Apart from fertilisers, Chambal is also into agri-inputs, shipping textiles, software and infrastructure.

The company's scrip was last trading 2.57% down at Rs 37.95 from its previous close at the BSE.