MCFL reports Rs 19.45 cr loss in Q2

Mangalore Chemicals and Fertilizers Ltd (MCFL) today reported a net loss of Rs 19.45 crore in the second quarter ended September 30, on sluggish sales.
The company had clocked a net profit of Rs 42.56 crore in the same quarter last fiscal.
In a regulatory filing, MCFL said its net sales declined to Rs 908.54 crore in the July-September period of the 2015-16 fiscal from Rs 1,196.73 crore in the same quarter last year.
However, the company's expenses remained slightly lower at Rs 915.13 crore in the second quarter of this fiscal as against Rs 1,108.63 crore in the period under review.

MCFL has a urea plant near Mangalore port with an annual capacity to produce about four lakh tonnes of urea and about three lakh tonnes of phosphatic fertilisers.