GFCL yoy net up 89 per cent

New Delhi, Apr 18 (UNI) Godavari Fertilisers and Chemicals Ltd today posted 89 per cent increase in its net profit for the fiscal ended March 31, 2007 at Rs 49.29 crore against the previous year's profit of Rs 26.11 crore.

The company's sales turnover rose 18 per cent to Rs 1,800 crore from Rs 1,520 crore a year ago.

During the fiscal, the company approved an expansion project worth Rs 82 crore to increase its production capacity to 4.25 lakh tonnes.

In addition, a new ammonia storage tank of 10,000 MT capacity was commissioned during the year at a cost of Rs 19.25 crore.

UNI