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Nagarjuna Agrichem has posted a lower net profit of Rs 1.80 crore in the second quarter ended September 30, 2012, as against Rs 7.37 crore in the corresponding quarter last year. The total income of the company stood flat at Rs 220 crore in the quarter. Earnings per share was down at Rs 1.21 (Rs 4.95).
V Vijay Shankar, Managing Director of Nagarjuna Agrichem, said that the company had made a claim for financial damages following the fire accident at the Srikakulam plant that was gutted in June 2012.
He said the company had received approvals from the Government authorities to recommence production for a few products in a few blocks at the plant. "Approvals for the remaining blocks are also expected to be received soon," he said.
For the financial year 2011-12, it reported a net profit of Rs 7.37 crore on a turnover of Rs 643 crore.
The stock was down 2.47 per cent to 78.95 on the BSE.
>kurmanath.kanchi@thehindu.co.in
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