Shares of Deepak Fertilisers today slumped nearly 8 per cent after the company reported 7 per cent decline in net profit for the quarter ended on June 30.
Deepak Fertilisers's scrip ended 7.73 per cent lower at Rs 163.50 on the BSE. During the day, it tumbled 8.8 per cent to Rs 161.60.
At the NSE, it lost 7.94 per cent to Rs 163.40.
Deepak Fertilisers today reported 7 per cent decline in net profit to Rs 39.85 crore for the quarter ended on June 30, 2014 as performance was affected by the "abrupt stoppage of gas supply" to its Taloja plant.
The company had clocked a net profit of Rs 42.73 crore in the same period last year.
Deepak Fertilisers and Petrochemicals Corporation Ltd's (DFPCL) total income from operations during April-June quarter of current fiscal rose by 27 per cent to Rs 945.37 crore compared Rs 742.55 crore in same quarter in 2012-13 fiscal, the company said in a BSE filing.
"The performance of the company during the quarter was adversely affected on account of abrupt stoppage of gas supply to its plant at Taloja consequent to a decision by Ministry of Petroleum and Natural Gas," DFPCL said in a statement.
