Gujarat State Fertilizers & Chemicals (GSFC) surged 14.19% to Rs 162.95 after the company's consolidated net profit soared to Rs 345.81 crore in Q1 FY23 as against Rs 136.11 crore in Q1 FY22.
Net sales soared 63.1% to Rs 3,018.15 crore in the quarter ended 30 June 2022 as against Rs 1,850.91 crore in the corresponding quarter previous year.
The company reported profit before tax of Rs 508.84 crore in Q1 FY23, steeply higher than Rs 176.40 crore in in Q1 FY22.
Total expenses spiked 49.78% to Rs 2,541.01 crore in Q1 FY23 over Q1 FY22. Cost of raw materials consumed jumped 45.84% to Rs 1,559.46 crore in Q1 FY23 from Rs 1,069.33 crore in Q1 FY22.
GSFC is engaged in production of fertilizers and chemicals. GSFC is under the ownership of Ministry of Chemicals and Petro-Chemicals, Government of Gujarat. Gujarat State Invetments holds 37.84% in the company.
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