GSFC Q3 net down by 20%

High raw material prices brought down Gujarat State Fertilisers and Chemicals Limited (GSFC)'s net profit for the third quarter ended December 31, 2012 down by 20 per cent at Rs 136.49 crore as against Rs 172.35 crore for the corresponding quarter last year.

The company net sales income, however, grew by 33 per cent for the said quarter at Rs 1729 crore, up from Rs 1,300 crore in third quarter of last year.

The EPS for the third quarter was Rs . 3.43 per share. It may be mentioned that the equity shares were sub-divided from its face value of Rs 10 per share to Rs 2 per share during the year.

Further, GSFC's income for nine months of current fiscal is Rs 4557 crore compared to Rs 3772 crore during April-December 2011, registering an increase of 20.81 per cent.

A company statement further informed that, the Tunisian joint venture (TIFERT) operation will commence shortly which should further boost prospects for the company as it will set in motion the production of Di-Ammonium Phosphate due to the availability of phosphoric acid, the vital raw material for the DAP.