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Our Bureau

Ahmedabad, Jan. 23

The state-owned PSU Gujarat State Fertilizer Corporation Ltd (GSFC) has registered lower profit in the third quarter of 2007-08 as it saw its profit after tax reduced by about 7 per cent to Rs 74.26 crore compared with Rs 79.89 crore in the same period of the previous year.

The net sales increased 10 per cent to Rs 995.48 crore (Rs 908.84 crore).

PAT in the first three quarters reduced to Rs 209.89 crore from Rs 215.70 crore in the year-ago period. The net sales increased 11 per cent to Rs 2,759.78 crore (Rs 2,482.53 crore), Mr P.K. Taneja, Managing Director, said.

The company is planning to invest Rs 437 crore on new projects and has initiated action for Responsible Care Logo Certification.

Among the new projects is a third melamine plant, for which engineering feasibility report is being studied. Investment in caprolactam expansion /debottelnecking is being envisaged.

The board, which met on Tuesday, gave in-principle approval to set up sulphuric acid plant at a cost of Rs 40 crore.

More Stories on : Fertilisers

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