Gujarat Narmada Valley Fertilizers Q1FY07 net declines 23.35%

New Delhi, July 16 (UNI) Gujarat Narmada Valley Fertilizers Company (GNFC) has posted a a 23.35 per cent decline in its net profit at Rs 47.05 crore for the first quarter ended June 30, 2006 as compared to Rs 61.39 crore for the corresponding period previous year.

However, the company's total income increased 23.12 per cent from Rs 354.25 crore in Q1 FY06 to Rs 436.18 crore for Q1 FY07.

The company is a joint-sector company jointly promoted by the Gujarat government and Gujarat State Fertilisers company.

It is engaged in primarily involved in manufacturing, marketing and distribution of ammonia, urea based fertiliser and has presence in industrial chemical business and information technology.

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