State-owned Rashtriya Chemicals and Fertilisers today reported 37% increase in its net profit to Rs 73.98 crore for the quarter ended December 31, 2012.

The company had posted a net profit of Rs 53.95 crore in the year-ago period, it said in a filing to the BSE.

Total sales of the company, however, fell by almost 3% to Rs 1,560.73 crore in the third quarter this fiscal as against Rs 1,603.76 crore in the same quarter of 2011-12.

Total expenditure of the complex fertiliser producer also declined to Rs 1,469.36 crore from Rs 1,560.93 crore in the reviewed period.

The public sector undertaking (PSU) produces various grades of complex fertilisers at its two manufacturing units in Thal and Trombay in Maharashtra.

Shares of the company today rose by 1.13% to settle at Rs 53.65 a piece over its previous close at the BSE.