Mosaic reports nearly 13 pct fall in first-quarter profit

Wed May 4, 2016 6:37am EDT
 
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May 4 (Reuters) - U.S. fertilizer company Mosaic Co reported a nearly 13 percent fall in quarterly profit on Wednesday, hampered by weak potash and phosphate prices.

The net profit attributable to the world's largest producer of finished phosphate products fell to $256.8 million, or 73 cents per share, in the first quarter ended March 31, from $294.8 million, or 80 cents per share, a year earlier.

Net sales fell 21.7 percent to $1.67 billion. (Reporting by Manish Parashar in Bengaluru and Rod Nickel in Winnipeg, Manitoba; Editing by Maju Samuel)