MOSCOW: Russia's PhosAgro , the world's No.2 producer of phosphate fertilisers, said on Tuesday its first-quarter net profit fell 59 percent, year-on-year, missing forecast.

The company's net income for the first three months of 2013 fell to 3.3 billion roubles ($108 million), while sales climbed 12 percent to $950 million, it said in a statement.

Reuters poll of analysts expected PhosAgro's net profit for the first quarter at 3.9 billion roubles.