Nagarjuna Agrichem, an arm of Nagarjuna Group, on Wednesday reported net loss of Rs 9.42 crore for the first quarter ended June 30 this year due to lower sales and higher expenses.
The company had clocked net profit of Rs 32 lakhs in the April-June quarter of 2012-13 fiscal.Total sales decreased by 5.44 per cent in the first quarter to Rs 156.23 crore of the current fiscal from Rs 165.22 crore in the last fiscal, the company said in a filing to BSE.
Total expenses increased to Rs 158.30 crore from Rs 155.15 crore during the period under review. The company had allotted around 69 lakh bonus shares of Rs 1 each to the current shareholders on June 3, which increased the public shareholding in the company to 25.19 per cent from 21.71 per cent, the filing added.
Shares of the company were down by 4.31 per cent to Rs 3.55 a piece on the BSE today.