Mangalore Chemicals Boosts Profits Amid Rising Expenses

Mangalore Chemicals and Fertilizers Ltd (MCFL) reported a 40.38% increase in net profit for the June quarter, reaching Rs 61.63 crore. Higher sales drove this growth, with total revenue rising to Rs 862.15 crore. Expenses also increased, impacting the overall financial dynamics.

Mangalore Chemicals and Fertilizers Ltd (MCFL) has announced a significant increase in net profit, rising by 40.38% to Rs 61.63 crore for the June quarter. This growth was primarily driven by higher sales, despite a notable rise in expenses.

The company's total revenue experienced a 5.89% uptick, reaching Rs 862.15 crore during the April-June period compared to Rs 814.04 crore in the previous year. However, expenses climbed to Rs 786.39 crore from Rs 752.56 crore.

As the largest manufacturer of chemical fertilisers in Karnataka, MCFL boasts an impressive annual capacity, making it a key player in the southern Indian market, with some export operations as well.

(With inputs from agencies.)