Gujarat State Fertilizers Q1 Results: Net profit drops by 67.47%

In June 2023, the company's quarterly net profit was Rs 112.46 crore, down 67.47% from Rs 345.81 crore the previous year.

The Vadodara-based manufacturer of chemicals and fertilizers recorded revenue of Rs 2,062.9 crore for the period under review, a decrease of 31.6% from Rs 3,018 crore the previous year.

EBITDA decreased to Rs 142.4 crore from Rs 525.1 crore over this time period, a 72.9% decline, while margins fell to 6.9% from 17.4%.

In Q1 FY24, the company's diluted earnings per share from continuing operations decreased from Rs 8.68 in the prior fiscal year to Rs 2.82 in terms of basic earnings per share (EPS) from continuing operations.

Gujarat State Fertilizers & Chemicals is a public sector company promoted by the Government of Gujarat. It produces a variety of fertilizers as well as industrial products including plastic, synthetic rubber, and man-made fibers.

Content source: Media reports