Gujarat State Fertilisers and Chemicals (GSFC) today reported a 29 per cent fall in its net profit at Rs 150 crore for the quarter ended September 30 on account of increased expenses.
The company had made a net profit of Rs 212.80 crore in the same period corresponding year.
Net sales rose to Rs 1,416.02 crore during the second quarter of the current fiscal from Rs 1264.13 crore in the year-ago period, the company said in a filing to the Bombay Stock Exchange (BSE).
However, the company's expenses remained higher at Rs 1,247.25 crore as compared with Rs 989.81 crore in the reviewed period, it said.
Vadodara-based GSFC has a product mix ranging from more than 24 brands of fertilisers to petrochemicals, chemicals, industrial gases, plastics, fibres and other products.
Shares of the company traded lower to settle at Rs 74.40 on the BSE today.
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