MCF posts net loss of Rs 5.95 cr in Q4

Mangaluru: Mangalore Chemicals and Fertilizers Ltd (MCFL) Tuesday reported a net loss of Rs 5.95 crore during the fourth quarter of the 2018-19 fiscal.

The company had posted a net profit of Rs 20.30 crore in the corresponding quarter last year, according to a regulatory filing.

Net income rose to Rs 643.09 crore during January-March quarter of the 2018-19 fiscal from Rs 634.1 crore in the year-ago period.

For the full 2018-19 fiscal, the company’s net profit declined to Rs 32.87 crore from Rs 60.58 crore in the previous year.

However, net income increased to Rs 3,073.63 crore from Rs 2,692.90 crore a year-ago in the same period.

The company’s board has recommended a dividend of Re 1 per equity share of Rs 10 each for the 2018-19 financial year.

MCFL has a urea plant near the Mangalore port with an annual capacity of about four lakh tonne and three lakh tonne of phosphatic fertilisers. Its products are marketed under the ‘Mangala’ brand.

Shares of the company Tuesday fell 1.84 per cent to settle at Rs 37.30 apiece on the BSE.