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National Fertilizer jumps after turnaround Q1 result

Capital Market 

National Fertilizer (NFL) spurted 7.13% to Rs 39.05 after the company posted a consolidated net profit of Rs 108.31 crore in Q1 June 2020 as compared to a consolidated net loss of Rs 64.07 crore in Q1 June 2019.

Shares of NFL are up 160% from its 52-week low of Rs 15 posted on 24 March 2020. The stock is just 15.2% away from its 52-week high of Rs 45 registered on 30 July 2020.

Consolidated net sales for Q1 June 2020 stood at Rs 2831.85 crore, rising 11.2% from Rs 2,547.04 crore in Q1 June 2019.

During the quarter ended 30 June 2020, NFL's production, dispatches, sales and market collections largely remained unaffected. The company has been able to operate all its five plants at normal levels except for restriction in load for few days due to limitation of supply of bags.

NFL is engaged in producing and marketing urea, neem coated urea, bio-fertilizers (solid and liquid) and other allied industrial products. As of 30 June 2020, the Government of India owned 74.71% stake in the company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, September 16 2020. 09:15 IST