GSFC Q3 net drops 26%

Gujarat State Fertilizers and Chemicals Limited (GSFC) registered a profit after tax of Rs 101.2 crore for the third quarter of the current fiscal ending December 31, 2013, down 26 per cent from Rs 136 crore in the corresponding period last fiscal mainly on the back of reduced sales.

GSFC's net sales fpr the quarter stood at Rs 1458.4 crore, down 15 per cent on a year on year basis from Rs 1729.4 crore in the same period last year. The company, however, noted in a statement that, "This is the second highest net sales achieved during the last five years for corresponding period." For the nine-month period, the company has earned a net sales income of Rs 3894.40 crore down from Rs 4557.29 crore in the year before period. Net profit for the nine-month period stood at Rs 208.08 crore, down 54 per cent from Rs 459.6 crore.