GNFC Posts 62% Profit Surge Despite Revenue Dip

Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) reported a notable 62% rise in consolidated net profit for the March quarter, reaching Rs 211 crore. This substantial increase comes in contrast to a decline in total income, which fell to Rs 2,177 crore during the same period.

The fiscal year 2024-25 witnessed GNFC's net profit elevate to Rs 597 crore from Rs 497 crore in the previous year, with total income declining slightly to Rs 8,393 crore. The organization's Managing Director, T Natarajan, attributed these improved results to increased volumes and decreased feed and fuel prices, which bolstered margins despite a sales disruption due to a shutdown at the Dahej complex.

Natarajan highlighted the central government's support through favorable nutrient-based subsidy (NBS) rates as a factor in the improved performance of GNFC's fertilizer segment. This joint sector enterprise, established in 1976 and promoted by the Government of Gujarat and Gujarat State Fertilizers & Chemicals Ltd, continues to navigate the challenging economic landscape with strategic initiatives.

(With inputs from agencies.)