GSFC jumps after Q4 results

Gujarat State Fertilizers & Chemicals jumped 5.80% to Rs 65.70 at 9:46 IST on BSE after net profit surged 129.4% to Rs 134.09 crore on 10.5% decline in net sales to Rs 1518.09 crore in Q4 March 2014 over Q4 March 2013.

The result was announced after trading hours on Tuesday, 13 May 2014.

Meanwhile, the BSE Sensex was up 84.43 points, or 0.35%, to 23,955.66.

On BSE, so far 3.31 lakh shares were traded in the counter, compared with an average volume of 1.17 lakh shares in the past one quarter.

The stock hit a high of Rs 67.40 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 63.25 so far during the day. The stock hit a 52-week low of Rs 43.70 on 4 March 2014.

The stock had outperformed the market over the past one month till 13 May 2014, rising 6.61% compared with 5.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 36.63% as against Sensex's 18.21% rise.

The small-cap company has an equity capital of Rs 79.70 crore. Face value per share is Rs 2.

Gujarat State Fertilizers & Chemicals' (GSFC) net profit fell 34% to Rs 342.17 crore on 13.4% decline in net sales to Rs 5412.49 crore in the year ended March 2014 over the year ended March 2013.

GSFC is engaged in manufacturing and marketing fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.

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