Zuari Agro Chemicals (ZACL) today reported 86 per cent decline in its net profit at Rs 3.12 crore for the quarter ended September 30 due to fall in sales.
The company had clocked a net profit of Rs 21.95 crore in the year ago period.
Net sales of the company during July—September quarter declined to Rs 1,327.17 crore from Rs 1531.61 crore in the year ago period, the company said in a BSE filing.
During the quarter, the company has invested Rs 16.69 crore in the equity of MCA Phosphates Pte Ltd, which is a joint venture firm with Mitsubishi Corporation, it added.