Zuari Agro posts net loss of Rs 15.01cr for Q4

Zuari Agro Chemicals today posted a standalone net loss of Rs 15.01 crore for the fourth quarter of 2017-18 fiscal on poor sales.

The Goa-based company had clocked a net profit of Rs 48.04 crore in the same quarter previous fiscal, according to a regulatory filing.

Net revenue declined to Rs 1,150.78 crore during January-March quarter of 2017-18 fiscal from Rs 1,452.08 crore in the year-ago period.

Expenses, however, remained lower at Rs 1,158 crore as against Rs 1,399.13 crore in the said period.

In the filing, the company said it is planning to set up a phosphoric fertiliser plant in Ras-Al-Khaimah (RAK), UAE in collaboration with Ras-Al-Khaimah Maritime City Free Zone Authority.

The joint venture firm has been incorporated and definite agreement between the shareholders have been completed.

"The company is in discussion with various EPC contractors with regard to the implementation of the project," the filing added.

The company shares fell by 6.53 per cent to settle at Rs 396.50 apiece on BSE today.