Jublilant Industries Q4 net loss widens to Rs 16.94 cr

Chemical and fertiliser maker Jubilant Industries today said its consolidated loss has widened to Rs 16.94 crore for the fourth quarter ended March 31, 2013, due to sluggish sales.

The company had posted a net loss of Rs 4.32 crore in the same quarter previous fiscal.

The company's losses widened as revenue from operations declined by 11.54% to Rs 224.59 crore during the fourth quarter of the 2012-13 fiscal from the Rs 253.90 crore in the same period corresponding year, Jubilant Industries said in a filing to the BSE.

However, expenses of the company remailed lower at Rs 237.06 crore as against Rs 252.18 crore in the review period.

During the 2012-13 fiscal, the company said its net loss has narrowed down to Rs 35.03 crore from Rs 56.70 crore in the previous fiscal due to fall in net sales.

Net income dropped by over 2% to Rs 999.12 crore from Rs 1,022.63 in the review period.

Jubilant Industries is the flagship company of Jubilant Bhartia group and it produces single super phosphate (SSP), a crop nutrient.

The company also produces industrial chemicals and performance polymers.

Shares of the company today closed 3.13% lower at Rs 108.25 on the BSE.