United Phosphorus posts Q2 net loss of Rs 57 cr

Agrochemicals major United Phosphorus reported a net loss of Rs 57 crore for the quarter ended September 2011. In the corresponding period a year ago the group posted a net profit of Rs 114 crore.

However, the net sales rose 40% to Rs 1,721 crore as against Rs 1,224 crore a year ago.

The group may attribute its loss to the forex loss incurred at Rs 111 crore.

The scrip declined 3.4% to Rs 140 on Bombay Stock Exchange at 1230 hours.