According to unaudited figures released by the company for the quarter under review sales turnover declined by 10.1 per cent to Rs 371.11 crore from Rs 413.27 crore posted in the corresponding quarter of the previous year.

On the positive side, there has been a marginal rise in other incomes to Rs 6.49 crore from Rs 6.28 crore, total expenditure is reduced by around Rs 48 crore and operating profit has risen by 16.47 per cent to Rs 43.29 crore from Rs 37.16 crore.

Although gross profit (after interest but before depreciation and taxation) has vastly improved to Rs 5.30 crore from Rs 62.39 lakh, interest costs too have increased by 3.96 per cent to Rs 37.99 crore from Rs 36.54 crore. Depreciation also is higher at Rs 14.12 crore from Rs 12.25 crore.

With nil provision for taxation,Spic places its net loss for the quarter at Rs 8.82 crore, down 24.1 per cent from Rs 11.62 crore in the previous corresponding quarter.

The company says provision for taxation will be considered at the year end. Its claims with the Government of India on account of escalation in some input and other costs for manufactured/imported fertilisers are under active consideration, it is said.