The net sales rises to Rs1,122 crore.
State-owned Gujarat State Fertilizers & Chemicals Ltd (GSFC) today announced a steep rise of 457 per cent in the net profits for the fourth quarter ended March 31, 2011 at Rs 205 crore from Rs 36.5 crore recorded in the corresponding period the previous year.
In a statement issued with the Bombay Stock Exchange (BSE), the company informed that the board of directors of the company had recommended a 70 per cent dividend i.e. Rs 7 per equity share of Rs 10 each.
The net sales for the quarter rose from Rs 782.55 crore in the corresponding period the previous year to Rs 1,122.49 crore in the Q4 2010-11. For the financial year, 2010-11 the net profits rose by 194.4 per cent to Rs 749 crore from Rs 254.4 crore against the previous year. Meanwhile, the net sales rose by 18 per cent to Rs 4,755 crore from Rs 4019.19 crore recorded in the last year.
The company has commissioned 33 megawatt (MW) wind power projects during the quarter ending March 31, 2011, taking the total wind power projects commissioned during the year to 51 MW.