GSFC jumps after Q2 net profit rises nearly 15%

Net profit rose nearly 15% to Rs 142.6 crore compared with Rs 124.3 crore in Sep qtr last fiscal

Shares of Gujarat State Fertilizers & Chemicals were up 10% at Rs 76.40 on the Bombay Stock Exchange after the company reported that its net profit for the quarter ended September 30, 2015 rose nearly 15% to Rs 142.6 crore compared with Rs 124.3 crore for the corresponding quarter last fiscal.

Net sales for the quarter under review rose 19% to Rs 1,762.20 crore Rs 1,481.60 crore in the same quarter ended September 30, 2014.

Net sales/income from operations and purchase of traded goods/freight and handling charges includes an amount of Rs 18.5 crore( previous year nil) towards trading in swap gas, the company said in a release.

The stock opened at Rs 73 and touched a high of Rs 77.60. At 1:55pm, over 7 million shares were traded on both the stock exchanges.