GNFC reports 48% decline in Q4 profits

rawan239

2 years ago

Fertilizer and chemicals major,Gujarat Narmada Valley Fertilizers and Chemicals Ltd(GNFC) posted a 48% decline in fourth quarter profits, the company said in its

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stock exchange filing on Thursday. The consolidated net profit fell to Rs 336 crore during the quarter as compared to Rs 643 crore in the year-ago period. GNFCs profits declined as a consequence of weaker demand in theagriculture sector.

The board has recommended a dividend of Rs 30 per share of Rs 10 each fully paid up (300%) for FY23. The companys share price fell 8.05% to Rs 601.95 a piece at close onBSE.