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Zuari Industries posts net loss of Rs 4.37 cr in Q4

Source : PTI
Last Updated: Sat, May 12, 2012 08:00 hrs

Fertiliser maker Zuari Industries Ltd (ZIL) today posted a standalone net loss of Rs 4.37 crore for the fourth quarter ended March 31, 2012.

The company had posted a net profit of Rs 21.42 crore in the year-ago period.

Net sales of the company stood at Rs 23.54 crore during the quarter as compared to Rs 966.38 crore in the year-ago period.

During the fiscal 2011-12, the standalone net profit of the company declined to Rs 47.56 crore from Rs 166.88 crore in the 2010-11 fiscal.

Standalone net sales of the company stood at Rs 1,243.64 crore as compared to Rs 5,522.83 crore in the period under review.

The company reported a consolidated net loss of Rs 218.55 crore in the last fiscal from a net profit of Rs 247.52 crore in the 2010-11 fiscal.

The consolidated net sales of the company stood at Rs 1,849.05 crore as against Rs 7,590.17 crore in the review period.

ZIL has recently demerged its fertiliser business into a separate entity, Zuari Holdings Ltd (ZHL).

The Goa-based complex fertilisers and urea producer has embarked upon the re-structuring exercise to demerge its various businesses into two separate verticals of fertiliser and other business for better managerial focus.

ZIL, a part of the Adventz Group, said in a statement that "rising raw material prices during the year coupled with the weakening of the rupee put some pressure on the bottomline, seen together with the demerged entity."

The company's, production facility at Vasco-da-Gama Goa, comprises of four separate plants of ammonia, urea and two other plants that manufacture various grades of complex fertilisers, apart from di-ammonium phosphate (DAP).

It has forayed into various business areas like cement, furniture, hybrid seeds, engineering consultancy, financial services and oil tanking.

Shares of the company today declined by 1.06 per cent to settle at Rs 149 a piece on the BSE.


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