Rashtriya Chemical Fertilisers, one of the biggest producers of fertilisers in India, saw a 62.9 percent decline in profit for the first quarter of financial year 2016-17.
Net profit for the April-June period slumped to Rs 19.6 crore from Rs 52.8 crore in the corresponding period last year, it said in a stock exchange filing.
Revenue for the quarter-ended June decreased 15.6 percent to Rs 1,537.2 crore from Rs 1,821.2 crore in the same quarter of the previous year.
Earnings before interest, taxes, depreciation and amortisation decreased 27.6 percent to Rs 95.4 crore from Rs 131.8 crore year-on-year. The EBITDA margin contracted by 100 basis points to 6.19 percent from 7.22 percent on a yearly basis.
Segmental Performance
- The fertiliser business witnessed a 21.4 percent decline in revenue to Rs 1,195.3 crore from Rs 1,521.2 crore on a year-on-year basis.
- The revenue from trading of stocks declined 21.3 percent to Rs 51.82 crore from the same quarter last year.
- The industrial chemicals revenue, however, increased 23.6 percent to Rs 291.42 crore yearly.
The RCF board also approved the issue of secured non-convertible debentures of Rs 1,000 crore on private placement, which is subject to approval by shareholders.
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