GFCL net up 53% to Rs 26cr

Godavari Fertilisers and Chemicals (GFCL) today announced a net profit of Rs 26.10 crore for FY06, a growth of 53%  as compared to Rs 17.09 crore in FY05.

The sales turnover increased by 27% to Rs 1,520 crore from Rs 1,200 crore in the previous year. Earnings per share also recorded a growth of 53% to Rs 8.16 in FY06 as compared to Rs 5.34 in FY05.

The company's board has recommended a dividend of 20% for the year as against 10% in the previous year. 

After its privatisation in 2003, GFCL improved its production steadily to 10.2 lakh tonnes in FY06 from 7.43 lakh tonnes in FY03.