GSFC's earnings rise by 14% in second quarter of current FY

AHMEDABAD: Gujarat government owned Gujarat State Fertilizers and Chemicals Limited achieved net sales of Rs. 1416 crores for the second quarter of current fiscal ended September 30 this year.

Adding the Q1 income, the company achieved net sales of Rs. 2828 crores for the first half of the current financial year, said a company statement. The earning are higher by 14% compared to first half of 2011-12.

The Profit after Tax for the 2nd quarter and the half year under review was Rs. 150 Crores and Rs. 323 Crores respectively.

The EPS for the 2nd quarter and the half year under review was Rs. 3.78 & Rs. 8.11 per share respectively. It may be mentioned that the equity shares of GSFC were sub-divided from its face value of Rs. 10/-per share to Rs. 2/- per share during the period under review.

GSFC produces complex fertilizers for the farmers. Simultaneously, it also made deep inroads into the manufacture of industrial chemicals, thus has become growth engine to other industries like automobile, paints etc.

GSFC has also on its anvil ambitious plans for further expansion of capacities in fertilizers and industrial products segments as well as other areas. In its continuous efforts for backward integration, the company is exploring possibilities even abroad especially for maintaining reliability in supply of basic raw materials like Phosphoric Acid, Potash, etc.