India's Zuari Agro Chemicals falls 5% after March-qtr loss widens

Zuari Agro Chemicals

22/06/2020 10:03

** Indian fertilizer company's shares  ZUAR.NS  fall as much
as ~5% to 111.45 rupees, hit lower circuit
    ** ZUAR said on Saturday Q4 consol net loss widened to 3.16
bln rupees ($41.58 mln) from 2.52 bln rupees (https://bit.ly/2V5QcYx)
    ** ZUAR Q4 consol rev from ops slumps 49.7% to 10.06 bln
rupees vs total expenses of 12.67 bln rupees  
    ** Says there is deterioration of its liquidity position due
to delay in receipt of subsidy from the govt and "drought-like
situation" in key marketing areas 
    ** Board gave in-principle approval for sale of fertilizer
plant at Goa to Paradeep Phosphates Limited - ZUAR
    ** Up to Friday's close, stock rose 29.6% YTD



($1 = 75.9913 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))