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Mangalore Chemicals sales up 14 p.c.

MANGALORE: Mangalore Chemicals and Fertilizers Ltd., a UB Group company, posted a turnover of Rs. 172.21 crore for the first quarter of 2005-06, up by 14 per cent over the corresponding period of the previous year. The profit, before tax, has also increased to Rs. 4.95 crore from Rs. 1.17 crore. The improvement in income and net profit was due to higher production and sales of urea. However, production and sales of DAP were lower owing to non-availability of phosphoric acid, consequent to delay in finalising the DAP pricing policy by the Union Government, says a release.

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