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State-run Gujarat Narmada Valley Fertilisers and Chemicals (GNFC) has posted a little over 10 per cent drop in its standalone net profit at Rs 67.26 crore for the quarter ended March 31,2013, on account of lower sales.
The Bharuch-based fertiliser firm had registered a net profit of Rs 75.15 crore in the same quarter last year, it said in a filing to the Bombay Stock Exchange.
Net profit was affected due to a decline in fertiliser sales but the company’s expenditure was maintained lower at Rs 967.07 crore in the fourth quarter of the 2012-13 fiscal against Rs 1037.83 crore in the year-ago.
Total income declined to Rs 1,086.66 crore from Rs 1,154.30 crore.
Income from fertiliser sales declined to Rs 586.69 crore during the fourth quarter of 2012-13 fiscal from Rs 692.80 crore in the same period corresponding year. However, revenues from chemical segment increased to Rs 490.10 crore from Rs 436.34 crore.
For the entire 2012-13 fiscal, the company’s net profit increased marginally to Rs 273.11 crore from Rs 263.84 crore in the previous year.
Net income increased to Rs 4,252.57 crore from Rs 3,862 crore.
The company has a capacity to produce 4.45 lakh tonnes of ammonia and 6.36 tonnes of urea annually.
The scrip ended at Rs 83 on the BSE today, down 3.04 per cent from the previous close.
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