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Operational revenue during the quarter under review dropped 23 per cent YoY at Rs 1,219 crore against Rs 1,591 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxation, depreciation and ammortisation) decline by 81 per cent to Rs 80 crore in Q3FY19 from Rs 428 crore in Q3FY18.
The company’s fertiliser segment posted a loss of Rs 44 crore before tax and finance cost against profit of Rs 2 crore in the previous year quarter.
The performance was impacted due to lower subsidy income and sales. The company said it has decided not to recognise additional fixed cost subsidy income for the period April 1, 2018, to December 31, 2018, amounting to Rs 23.23 crore during the quarter, as the earlier claim for the said subsidy was neither acknowledged nor paid by the Department of Fertilizer till date.
The manufacturing facilities of the company had undergone a planned annual shutdown for a period of 27 days during the reported quarter. Hence, the figure for the current quarter is not comparable with the earlier periods to that extent, it added.
At 10:20 am; GNFC was trading 11 per cent lower at Rs 273 on the BSE, as compared to 0.08 per cent fall in the S&P BSE Sensex. The trading volumes on the counter jumped nearly three-fold, with a combined 1.29 million equity shares changing hands on the NSE and BSE so far.
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