Gujarat Narmada Valley Fertilizers and Chemicals says Q1 profit falls 30 pc

News18

6 days ago

Last Updated:
New Delhi, Aug 6 (PTI) Gujarat Narmada Valley Fertilizers and Chemicals on Wednesday posted around 30 per cent fall in consolidated net profit to Rs 83 crore in June quarter of FY26, impacted by a decline in revenues from core business segments and 'shutdown".
Gujarat Narmada Valley Fertilizers and Chemicals Ltd (GNFC), which is also into information and technology, had logged a net profit of Rs 118 crore in April-June 2024-25, the company said in an exchange filing.
The net profit was also down sequentially compared to the earning of Rs 211 crore in January-March period of 2024-25 financial year.
In the reporting quarter, the company's consolidated total income declined to Rs 1,751 crore from Rs 2,120 crore in the June quarter of 2024-25.
Revenues from fertilizers came down to Rs 577 crore from Rs 701 crore, and that of chemicals to Rs 1,005 crore from Rs 1,304 crore in the year-ago period.
Expenses were at Rs 1,646 crore as against Rs 1,963 crore a year ago.
Meanwhile, the board of the company approved the re-appointment of Bhadresh Mehta as an Independent Non-Executive Director for the second term of three consecutive years, from September 27, 2025 to September 26, 2028, subject to the approval of shareholders of the company at the ensuing Annual General Meeting.
In a separate statement, the company's Managing Director T Natarajan said, 'Lower volume availability has affected the revenue, both, for fertilizer and chemical. In case of chemical segment, tough market conditions prevailed for products like Aniline & TDI (Toluene Diisocyanate ) which affected the realisations." On Q-o-Q & Y-o-Y basis, shutdown impact weighed on operating results, he said.
In case of urea, higher energy as compared to allowable energy widened losses whereas some of the chemicals faced margin erosion due to lower realisations. PTI ABI HVA
(This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments
First Published:
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.