GSFC's net up over twofold to Rs 207 cr in Q2

Fertiliser maker Gujarat State Fertilisers & Chemicals (GSFC) today said its net profit grew more than twofold to Rs 207.01 crore in the second quarter ended September 30, over the corresponding period a year ago.

The company had a net profit of Rs 77.17 crore in the September quarter last fiscal, Gujarat State Fertilisers & Chemicals said in a filing to the Bombay Stock Exchange (BSE).

Total income of Gujarat's public sector company rose by 36.59 per cent to Rs 1,300.66 crore in the quarter under review from Rs 952.23 crore during the same period previous year, it said.

For the half-yearly period ended September 30, 2010, the company's net profit increased to Rs 315.61 crore from Rs 103.74 crore in the same period previous year, it said.

Total income of the firm jumped to Rs 2,367.42 crore in the six-month period under review from Rs 2,095.32 crore in the same period last fiscal.

The company manufactures various fertilisers like urea, ammonium sulphate, bio-fertilisers and water soluble fertilisers.

The company's incessant efforts of product diversification and value addition have created 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 closed at Rs 341.85, up 1.73 per cent from the previous close on the BSE.