GNFC slumps after weak Q3 earnings

Gujarat Narmada Valley Fertilizers & Chemicals fell 10.51% to Rs 275.80 at 11:41 IST on BSE after net profit fell 27.3% to Rs 165.72 crore on 23.4% decline in net sales to Rs 1,219.16 crore in Q3 December 2018 over Q3 December 2017.

The result was announced after market hours yesterday, 11 February 2019.

Meanwhile, the S&P BSE Sensex was down 5.64 points, or 0.02% to 36,389.39.

On the BSE, 2.71 lakh shares were traded in the counter so far compared with average daily volumes of 68,000 shares in the past two weeks. The stock had hit a high of Rs 290 so far during the day. The stock had hit a low of Rs 270.75 so far during the day, which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 508 on 14 February 2018.

 

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) is engaged in manufacturing and selling fertilizers such as urea and ammonium nitrophosphate under the umbrella Narmada.

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