GSFC Q2 net up 23% to Rs 124.31 crore

State-run Gujarat State Fertilisers Corporation (GSFC) today reported a 23 per cent increase in its net profit to Rs 124.31 crore for the quarter ended on September 30, on account of increase in income.

The company had clocked a net profit of Rs 101.34 crore in the year-ago period.

Total income from operations during July-September quarter rose to Rs 1,482 crore from Rs 1,418 crore in the year ago period, GSFC said in a statement.

Speaking about the result, GSFC Managing Director Atanu Chakraborty said: "We were able to increase our revenues and profit despite shutdown in the plant and I am confident that in coming quarters our bottom line and top line will further go upwards."

Shares of the company were down 8 per cent to Rs 111 apiece on BSE today in early noon trade.