GSFC Q3 profit down 25% to Rs 172 cr

Gujarat State Fertilisers and Chemicals (GSFC) today reported a 25% decline in net profit at Rs 172.35 crore for the third quarter ended December 31, 2011.

The Vadodara-based company had reported a net profit of Rs 228.62 crore in the year-ago period.

Net sales of the complex fertilisers manufacturer rose marginally by 3% to Rs 1,300.02 crore during the quarter as against Rs 1,265.14 crore in the year-ago period, it said in a filing to the BSE.

The total expenditure of the company rose by 13% to Rs 1,074.82 crore from Rs 948.95 crore in the same quarter last fiscal.

The company commissioned a 42-MW wind mill power project in the third quarter, it said in the filing.

GSFC will also set up a bio fertiliser plant at Vadodara with an investment of around Rs 50 crore, which will produce water soluble fertilisers, plant growth promoters and liquid bio fertilisers.

Apart from complex fertilisers, GSFC also produces and markets urea and water soluble fertilisers.

Shares of the company today rose by 0.83% to settle at Rs 388.40 on the BSE.