Our Bureau Fertilisers major Gujarat State Fertilizers & Chemicals Ltd (GSFC) has posted a standalone net profit of ₹171 crore for the quarter ended September 2020 as against ₹32 crore reported in the preceding quarter.
Riding on efficient cost management, reduced raw material consumption expenditure and increased sales, GSFC has registered a staggering 400 per cent rise in profits on a quarter-on-quarter basis for the second quarter of the current fiscal, the company said.
Standalone revenues from operations stood at ₹ 2,072 crore for the quarter under review, about 28 per cent higher from the ₹1,614 crore reported in the June quarter.
On a consolidated basis, the company’s net profit for the quarter stood at ₹173 crore, up from ₹ 30 crore in the June quarter. Consolidated revenues from operations stood at ₹2,111 crore as against ₹1,637 crore in the previous quarter. Notably, the company’s fertiliser sales volumes grew 10 per cent in the first half of fiscal 2020-21, compared with the year-ago period.
During the quarter, GSFC stopped purchasing finished fertilisers, except urea ( imported by the Centre) and Muriate of Potash.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.