Gujarat Flurochemicals has dipped almost 8% at Rs 328 in opening trades after reporting a net profit of Rs 110 crore in September 2012 quarter against Rs 188 crore in the corresponding quarter of previous year.
“Total income from operations has declined by 40% at Rs 310 crore on year on year basis,” the company engaged in industrial gases business said in a filing.
The company has transferred the wind energy business to its subsidiary Inox Renewables, by way of ‘Slump Sale” during the financial year ended 31st March 2012, which is reported at ‘discounted operations’ in the above results, it added.
The stock opened at Rs 351 on the Bombay Stock Exchange and has seen a combined around 28,000 shares changing hands on the counter so far on both the exchanges.
