Mangalore Chemicals & Fertilizers Ltd., an Indian chemicals and fertilizers manufacturer has reported its financial results for the period ended March 31, 2021.
Q4 Results
For the quarter, the company has posted a net profit of Rs 14.72 crores ($2 million), a 38.3% drop as against Rs 23.87 crores ($3.3 million) during the prior-year quarter.
Net sales grew by 6.2% to Rs 602.73 crores ($82.4 million) for the quarter ended March 31, 2020 as compared to Rs 567.82 crores ($77.7 million) during the prior-year quarter.
“The figures for the quarter ended December 31, 2020 are not comparable to the current quarter figures as during the last quarter, ammonia and urea plants were shutdown on October 05, 2020 for preparations required for natural gas operation besides replacement of compatible ammonia plant catalyst.
The Company had commenced operation of Ammonia and Urea Plants with natural gas post testing and commissioning activities and Urea production commenced on December 12, 2020,” the company stated in its stock exchange filing.
Full-Year Results
The company’s net profit grew 4% to Rs 67.09 crores ($9.2 million) for the full-year period ended March 31, 2021 as against Rs 64.55 crores ($8.8 million) for the full-year period ended March 31, 2020.
The company has reported net sales of Rs 2170.72 crores ($296.9 million) during the full-year period ended March 31, 2021, a 21% decline as compared to Rs 2734.06 crores ($373.9 million) during the full-year period ended March 31, 2020.