State-owned Rashtriya Chemicals and Fertilizers Ltd (RCF) on Thursday posted a 65.28 per cent drop in consolidated net profit at Rs 7.98 crore for the first quarter of the current fiscal.
Net profit had stood at Rs 22.99 crore in the same period of the previous fiscal, the company said in a regulatory filing.
Total income increased to Rs 2,434.29 crore during April-June quarter of 2019-20 fiscal from Rs 1,955.96 crore in the year-ago period.
Expenses, however, rose to Rs 2,423 crore as against Rs 1,920.75 crore earlier.
The company said the board has approved the issuance of secured non-convertible debentures in one or more series aggregating up to Rs 1,000 crore in the next 12 months through private placement mode, subject to the approval of shareholders.
Shares of the company rose 1.43 per cent to settle at Rs 46.25 apiece on the BSE on Thursday.
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