State-run Gujarat Narmada Valley Fertilisers and Chemicals (GNFC) today posted a 7 per cent increase in net profit at Rs 107.64 crore for the quarter ended December 31, on account of higher sales.
The Bharuch-based fertiliser firm had registered a net profit of Rs 100.73 crore in the same quarter last year, it said in a filing to the Bombay Stock Exchange (BSE).
Net sales of the company during the October-December period of 2013-14 increased to Rs 1,367.96 crore from Rs 1,119.20 crore in the same period in 2012-13 fiscal.
Revenue from chemicals segment increased to Rs 661.19 crore from Rs 456.13 crore. Sales from fertilisers increased to Rs 688.92 crore in the period under review as against Rs 647.66 crore in the same quarter a year-ago.
The company has a capacity to produce 4.45 lakh tonnes of ammonia and 6.37 lakh tonnes of urea annually.
Shares of the GNFC fell by 1.38 per cent to Rs 71.50 apiece on the BSE.
