Gujarat State Fertilizers hits near 3-year low after lower Q1 profit

Reuters August 7 | Updated on August 07, 2019

Shares of Gujarat State Fertilizers & Chemicals Ltd fell as much as 4.3 per cent to Rs 73.5, their lowest since September 29, 2016.

The fertiliser and industrial chemical manufacturer posted a 10.5 per cent fall in June-quarter profit to Rs 63.33 crore ($8.93 million).

The company's est PE of 5.39 is below the sector average of 5.96.

Up to last close, the stock was down 34 per cent this year, while peer Gujarat Narmada Valley Fertilizers & Chemicals was down 41 per cent. ($1 = 70.9350 rupees)

Published on August 07, 2019

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