Gujarat State Fertilisers and Chemicals (GSFCL) today reported a 62.5 per cent fall in net profit for the March quarter at Rs 36.82 crore on the back of drop in sales in fertiliser and industrial products segments.
The Gandhinagar-based firm had earned Rs 98.43 crore net profit in the same quarter of the previous fiscal, it said in a filing to the Bombay Stock Exchange (BSE).
GSFCL's total income fell by 7.5 per cent to Rs 782.55 crore compared to Rs 846.9 crore in the same quarter previous fiscal with fertiliser segment revenue decreasing to Rs 470.12 crore from Rs 612.78 crore.
The industrial products business also did not do well as revenue declined to Rs 312.42 crore in fourth quarter of FY'10 from 234.12 crore in the same quarter of 2008-09.
During FY'10, revenue from fertiliser segment and industrial products segment dipped to Rs 2,869.73 crore and Rs 1,149.46 crore, respectively.
Net profit of the company nearly halved to Rs 254.47 crore vis-a-vis Rs 499.36 crore in the 2008-09 fiscal.
GSFCL Board has recommended a 45 per cent dividend.
