GSFC Q3 net profit down 26% at Rs 101 cr

Company has earned a net sales income of Rs 1,458 crore for the third quarter ended on Dec 31

Gujarat State Fertilisers and Chemicals Ltd has registered a drop of 26% in net profit at Rs 101.20 crore for third quarter ended December 31 as against Rs 136.49 crore in the same period of last fiscal.

The company has earned a net sales income of Rs 1,458.40 crore for the third quarter ended on December 31, as compared at Rs 1,729.43 crore in the same period last year, a company statement said today.

The company earned a net sales income of Rs 3,894.40 crore during the nine months in current financial year. Profit after tax for the nine months under review was Rs 208.08 crore as compared to Rs 518.10 crore in the same period last year.

The company's profitability has been maintained despite higher currency fluctuations. It also improved its liquidity position by exercising tighter control on receivables, the release said.

During the period under review, the company's methanol project has been successfully executed and the plant has commenced commercial production. The other significant development is that the company is in the process of finalising technology supplier for its proposed 40,000 MTPA melamine project.