Nagarjuna Agrichem registers net loss of Rs 9 crore in Q1

Company clocked net profit of Rs 32 lakhs in the April-June quarter of 2012-13 fiscal

Nagarjuna Agrichem, an arm of Nagarjuna Group, today reported net loss of Rs 9.42 crore for the first quarter ended June 30 this year due to lower sales and higher expenses.

The company had clocked net profit of Rs 32 lakhs in the April-June quarter of 2012-13 fiscal.

Total sales decreased by 5.44% in the first quarter to Rs 156.23 crore of the current fiscal from Rs 165.22 crore in the last fiscal, the company said in a filing to BSE.

Total expenses increased to Rs 158.30 crore from Rs 155.15 crore during the period under review.

The company had alloted around 69 lakh bonus shares of Re one each to the current shareholders on June 3, which increased the public shareholding in the company to 25.19% from 21.71%, the filing added.

Shares of the company were down by 4.31% to Rs 3.55 apiece on the BSE today.