Mangalore Chemicals Q2 net zooms 2.27 times

Mangalore Today News Network

Mangalore, OCtober 20: Mangalore Chemicals & Fertilzers reported a phenomenal rise in standalone net profit for the quarter ended September 2010. During the quarter, the profit of the company rose 2.27 times to Rs 338.22 million from Rs 149.02 million in the same quarter previous year.

Net sales of the company during the July-September period of the current fiscal stood at Rs 1021.94 crore, compared to Rs 609.89 crore during the corresponding period one-year ago.

It reported earnings of Rs 2.85 a share during the quarter, registering 2.26 times growth over previous year period.

The company, which predominantly deals in the fertiliser segment, had recorded a Rs 14.9 crore net profit during the year-ago period, it said in a stock exchange communique.