GSFC net down 26% at Rs 101.20 cr in third quarter

Written by PTI | Mumbai | Updated: Jan 31 2014, 05:53am hrs
Gujarat State Fertilisers and Chemicals has registered a drop of 26% in net profit at Rs 101.20 crore for third quarter ended December 31 against Rs 136.49 crore a year ago.

Net sales income stood at Rs 1,458.40 crore compared to Rs 1,729.43 crore in the same period last year. The company earned a net sales income of Rs 3,894.40 crore during the nine months in FY14. Profit after tax was Rs 208.08 crore compared to Rs 518.10 crore.

The companys profitability has been maintained despite higher currency fluctuations. It also improved its liquidity position by exercising tighter control on receivables. During the period under review, the companys methanol project has been successfully executed and the plant has commenced commercial production.