Gujarat State Fertilizers and Chemicals Q2 net profit up 23% to Rs 285 cr

Gujarat State Fertilizers and Chemicals Ltd (GSFCL) on Wednesday posted a 23.33 per cent jump in its consolidated net profit at Rs 285.27 crore for the second quarter of the 2022-23 fiscal.

The company had clocked a net profit of Rs 231.29 crore in the same quarter previous fiscal, according to a regulatory filing.

Total income remained lower on a consolidated basis at Rs 2,560.16 crore in the July-September quarter of the current fiscal, compared to Rs 2,596.10 crore in the year-ago period.

Expenses fell to Rs 2,145.64 crore from Rs 2,248.82 crore earlier.

The consolidated Q2 results include performance of subsidiaries GSFC Agrotech Ltd, Vadodara Jal Sanchay Pvt Ltd, Gujarat Port and Logistics Company Ltd as well as associate companies such as Gujarat Green Revolution Company Ltd, Vadodara Enviro Channel Ltd and Karnalyte Resources lnc.

Shares of the company rose 1.64 per cent to settle at Rs 130.05 apiece on the BSE on Wednesday.