State-promoted Gujarat Narmada Valley Fertilizers Company Ltd (GNFC) today reported an 86 per cent increase in profit after tax (PAT) and 75 per cent increase in sales in the first quarter of 2011-12 fiscal, compared to the corresponding quarter last fiscal.
Mr A.M. Tiwari, Managing Director, said here that the company’s sales were Rs 644.21 crore (Rs 367.81 crore) while PAT stood at Rs 41.65 crore (Rs 22.67 crore).
On Friday, GNFC’s shares closed 0.25 per cent up at Rs 100.60 on the BSE.
He said the company’s performance was affected in this quarter due to annual shutdown for 18 days.
GNFC’s new projects involving investments of Rs 3,975 crore are at various stages of development and are expected to completed in 2011 and 2012.