Gujarat Narmada Valley shares soar over 7 pc after Q4 earnings

Shares of Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) surged over 7 per cent today after the company reported a 38 per cent rise in net profit for the fourth quarter ended March 2018.

The stock jumped 7.21 per cent to end at Rs 460.95 on BSE. Intra-day, it soared 10.57 per cent to Rs 475.40.

On NSE, shares of the company surged 7.18 per cent to close at Rs 460.70.

In terms of equity volume, 12.26 lakh shares of the company were traded on BSE and over 79 lakh shares changed hands on NSE during the day.

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) has reported a 38 per cent rise in net profit at Rs 329 crore for the fourth quarter ended March 2018.

The firm had posted a net profit of Rs 238 crore in the same quarter of 2016-17, GNFC said in a statement.

Total income of the company from operations increased 34 per cent to Rs 1,764 crore during January-March quarter of 2017-18, compared with Rs 1,314 crore in the previous year.

The board of the company has recommended highest-ever dividend of 75 per cent, it said, adding that a shareholder would get Rs 7.50 per share of Rs 10 each for the year ended March 31.