GSFC reports 97% fall in Q1 net at Rs 5.54 cr

Aug 03, 2013, 06.50 PM IST

Gujarat State Fertilisers and Chemicals reported a 97 percent fall in ints net profits to Rs 5.54 crore on the back of poor sales. The state owned fertliser firm has a product mix ranging from fertilisers to petchems, chemicals, industrial gases and so on.

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GSFC reports 97% fall in Q1 net at Rs 5.54 cr

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Gujarat State Fertiliser and Chemicals Ltd ( GSFCL ) today reported sharp decline in net profits by 97 percent to Rs 5.54 crore for the first quarter ended on June 30 due to fall in sales.

Also read: Complex fertiliser sales lower by 8% in Jun' 13:P Lilladher

The company had posted net profit of Rs 172.71 crore in the April-June quarter of the 2012-13 fiscal. Total Q1, 2013-14 income of the company decreased by 39 percent to Rs 1,017.98 crore, from Rs 1,411.84 crore in the year-ago period, the company said in a filing to the BSE.

Gujarat government owned GSFCL has a product mix ranging from more than 24 brands of fertilisers to petrochemicals, chemicals, industrial gases, plastics, fibers and other products. GSFC's joint venture manufacturing plant of Phosphoric Acid in Tunisia has also become operational during the quarter.

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GSFC reports 97% fall in Q1 net at Rs 5.54 cr

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