Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) tumbled 4.29% to Rs 194 after the company's net profit slumped 95.7% to Rs 2.97 crore on 42.1% decline in net sales to Rs 700.23 crore in Q1 FY21 over Q1 FY20.
Revenue from fertilizers segment stood at Rs 331.29 crore (down 21.9% YoY) and revenue from chemicals segment was at Rs 354.11 crore (down 53.7% YoY) in the first quarter.
Profit before tax in Q1 June 2020 stood at Rs 1.94 crore, down by 97.1% from Rs 66.73 crore in Q1 June 2019. Current tax expense were down by 88.6% year-on-year (YoY) to Rs 1.55 crore during the quarter.
GNFC is engaged in operating businesses in the industrial chemicals, fertilizers and information technology (IT) products space.
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