GNFC posts 62.33 pc decline in PBT for Q1

Ahmedabad, Jul 30 (UNI) Fertilizers and chemicals major Gujarat Narmada Valley Fertilizers Limited (GNFC) today posted a decline of 62.33 per cent in its Profit Before Tax (PBT) at Rs 43.78 crore in the first quarter of the current fiscal, as against Rs 116.21 crore of corresponding quarter last year.

Speaking to mediapersons on the occasion of announcing the results, GNFC Managing Director Balwant Singh said, ''During the quarter, there was an extended annual shut down in a large number of plants, delayed start up of plant revamp and damage to Air Compressor in Ammonia Plant. This has resulted into higher number of nil production days.'' The Sales were registered at Rs 537.83 crore, 6.24 per cent lower over the corresponding previous quarter.

Earning Per Share (EPS) is at Rs 1.82, as against Rs 4.88 of corresponding quarter previous year, the release added.

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