State-run Rashtriya Chemicals and Fertilisers today reported a 65 per cent decline in standalone net profit at Rs 19.59 crore for the quarter ended June 30, and announced plan to raise Rs 1,000 crore through non-convertible debentures on a private placement basis.
The company had posted a net profit of Rs 56.10 crore in the year-ago period.
Income from operations also fell to Rs 1540.99 crore during the first quarter of this fiscal from Rs 1,824.54 crore in the corresponding period of the previous year.
The company's finance cost increased to Rs 47.60 crore from Rs 33.28 crore during the period under review.
In a filing to BSE, the company also informed that the board of Directors at its meeting held today have approved the issue of secured non-convertible debentures of Rs 1,000 crore on private placement subject to the approval by the members at the general meeting.
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