Gujarat State Fertilisers and Chemicals (GSFC) today reported a 26 per cent drop in third quarter net profit at Rs 101.20 crore due to sluggish sales.
The Vadodara-based company's net profit stood at Rs 136.49 crore in the same quarter of 2012-13 fiscal, it said in a BSE filing.
GSFC's net profit took a beating as its total sales fell by about 16 per cent to Rs 1,458.40 crore in the October-December quarter of the 2013-14 fiscal, from Rs 1,729.43 crore in the same period last year.
Also, the company's finance cost rose by 30 per cent to Rs 14.08 crore from Rs 10.84 crore in the period under review.
GSFC manufactures plant nutrients and industrial intermediates and sells under the brand 'Sardar'.
Shares of the company fell by 1.82 per cent to settle at Rs 48.60 apiece on the BSE today.
