Nagarjuna Fertilisers and Chemicals Ltd posted a lower net profit and turnover for the quarter ended March 31, 2013.

The company’s net profit fell to Rs 2.14 crore in the quarter from Rs 60.28 crore in the comparable quarter last year.

The turnover declined to Rs 1,286 crore (Rs 1,445 crore). “Seasonal conditions are not conducive for fertiliser market.

Sales targets could not be met because of the slack demand. It is not just restricted to our company. You can see this as a general trend across all fertiliser companies,” an NFCL executive told Business Line, reacting to a query on the poor performance in the quarter.

For the full year, the company’s turnover stood at Rs 5,484.61 crore (Rs 4,990 crore). The net profit was put at Rs 81 crore (Rs 136 crore).

http://www.thehindubusinessline.com/companies/nagarjuna-fertilisers-profit-down/article4680969.ece