Rashtriya Chemicals Q2 net profit halves to Rs 40 crore

Rashtriya Chemicals and Fertilizers reported a 51.68 per cent fall in net profit at Rs 40.04 crore for the quarter ended September, despite higher sales during the period.

The company had clocked a net profit of Rs 82.87 crore in the corresponding quarter last fiscal year, it said in a filing to the BSE.

However, total income in the second quarter of the current fiscal year (FY14) increased 10.35 per cent to Rs 1,820.03 crore, from Rs 1,649.36 crore in the corresponding period a year ago.

Profits declined as expenses rose to Rs 1,756.68 crore during the quarter ended September, 2013, from Rs 1,538.23 crore last year.

Besides, finance cost also rose to Rs 16.84 crore from Rs 13.96 crore in the period under review.

Shares in RCF, on Friday, ended to at Rs 32.40 apiece on the BSE, down 2.11 per cent from the previous close.