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Nagarjuna Fertilisers and Chemicals Ltd, part of the Nagarjuna Group, reported a marginal dip in net profit for the first quarter of the current fiscal at Rs 26.84 crore, as against Rs 27.13 crore in the year-ago period.
Net sales rose at Rs 385.20 crore, as compared to Rs 330.77 crore in the corresponding period of last fiscal. The composite scheme of arrangement and amalgamation between Ikisan Ltd, Kakinada Fertilisers Ltd(KFL), NFCL and Nagarjuna Oil Refinery Ltd has been approved by the high courts of Mumbai and Andhra Pradesh last month, the company said in a filing to the exchanges. The scheme envisages demerger of oil business and merger of residual NFCL to KFL.
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