Gujarat State Fertilizers and Chemicals (GSFC) today reported a 49.50 per cent fall in its net profit at Rs 32.57 crore for the quarter ended March 31, due to higher expenses.
The company had posted a net profit of Rs 64.50 crore in the same quarter of the 2014-15 fiscal.
Total income of the company during the January-March quarter of the 2015-16 fiscal rose to Rs 1,715.30 crore from Rs 1,317 crore in the same period of the 2014-15 fiscal.
Profits came down sharply as expenses of the company jumped to Rs 1,653.04 crore from Rs 1,211 crore during the period under review.
For the full fiscal 2015-16, the company reported a decline in the consolidated net profit at Rs 387.43 crore compared with Rs 409.49 crore in the financial year 2014-15.
However, the total income increased to Rs 6,227.54 crore for the year ended March 31, 2016 compared to Rs 5,425.76 crore in the previous year.
