Gujarat Narmada Valley Fertilizers and Chemicals tanks 12% on weak Q3 nos

The stock tanked 12% to Rs 271, also its 52-week low on the BSE, after the company reported 81% drop in Ebitda at Rs 80 crore in Q3FY19.

Shares of Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) tanked 12 per cent to Rs 271 on BSE on Tuesday as the company posted 27 per cent year-on-year (YoY) decline in net profit at Rs 166 crore in December 2018 quarter (Q3FY19). The fertilizer company had reported a profit of Rs 228 crore in a year-ago quarter. The stock hit its 52-week low, and has slipped 25 per cent in the past one month, as compared to a 1 per cent rise in the S&P BSE Sensex.

Operational revenue during the quarter under review dropped 23 per cent YoY at Rs