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Ahmedabad, May 19 Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) posted a standalone net profit of Rs 334 crore for the quarter ended March 31, 2023, down 48 per cent from Rs 643 crore in the corresponding quarter a year ago.
Standalone revenues from operations dipped by 18 per cent to Rs 2,271 crore, as against Rs 2,772 crore in the same quarter last year.
For the fiscal 2023, net profit stood at Rs 1,464 crore, down 14 per cent from Rs 1,704 crore last year. Revenues from operations stood at Rs 10,227 crore for the year, as against Rs 8,642 crore last year.
Also read: Gujarat’s new PSU policy: Analysing the potential and scope for a dividend bonanza
The board of directors has recommended a dividend of Rs 30 per equity share of Rs 10 each (@ 300%) for the financial year 2023.
On a consolidated basis, net profit in ficsal 2023 dropped 14 per cent at Rs 1,472 crore (Rs 1,710 crore). Consolidated revenues stood at Rs 10,227 crore (Rs 8,642 crore).
The company’s fertilizer revenues stood at Rs 3,655 crore, up 49 per cent from Rs 2,452 crore last year, while revenues from chemicals increased 6 per cent to Rs 6,484 crore (Rs 6,102 crore).
It said, “The performance of the chemical segment was affected by an increase in input and fixed cost, which was partially compensated by better realisations and higher volume.”
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