Gujarat State Fertilizers and Chemicals Ltd (GSFC) has registered sharp jump in the net profit for the first quarter ended June 2014 to Rs 108 crore from Rs 5.5 crore recorded in the corresponding quarter a year ago.
The net sales stood at Rs 1,243 crore against Rs 1,018 crore in the same period previous year, showing a growth of 22 per cent.
The state-run company's fertilizer products revenues increased by 31 per cent to Rs 684 crore for the quarter against Rs 521 crore in the corresponding quarter previous year. Also, revenues from its industrial products segment had increased by 12 per cent to Rs 558 crore during the quarter against Rs 497 crore a year ago.
Company shares witnessed sharp jump on the Bombay Stock Exchange (BSE) on Friday to hit the intra-day high of Rs 84.70 before closing at Rs 78.5, over 2 per cent higher from previous close.