Zuari Agro Chemicals disclosed a net loss amounting to Rs 40.6 crore in the quarter ended June this fiscal year owing to sluggish sales. The company had noted a net profit worth Rs 1.2 crore in the same period last year. Net income reduced to Rs 978.3 crore in April-June of 2016-17, from Rs 1,555.7 crore a year ago. As per the company’s filling because of significant reduction in the selling price of complex fertilisers and potash during the current quarter and subsequent to quarter-end. The company is anticipating reduction claim of Rs 47.33 crore on the back of stock lying with distribution chain. During July, the it declared a cut in maximum retail price (MRP) of di-ammonium phosphate (DAP) by Rs 2,500 to Rs 22,000 per tonne, muriate of potash (MoP) by Rs 5,000 to Rs 11,000 per tonne and NPK nutrients by Rs 1,000 per tonne. On 9th Sept, Zuari Agro share price was trading below 2.50% at Rs. 187.00. The stock opened at Rs. 192 and settled at Rs. 184.64. Post the announcement of Q1 numbers, the stock slipped sharply by 6% , quoting at Rs. 173.00
The 52 week high value of Zuari Agro share price was touched at Rs. 209.15 on 12th May ’16 whereas the 52 week low value was met at Rs. 117.15 on 1st March ’16. As soon as the trading session commenced, around 5,439 shares were traded in the counter with a traded value of Rs. 9.30 lacs.
For further details refer to Zuari Agro share price forecast.
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