New Delhi, Gujarat State Fertilizers and Chemicals (GSFCL) on Tuesday reported a sharp 89 per cent decline in consolidated net profit to Rs 24.43 crore in the fourth quarter of 2023-24 due to poor sales.
Its net profit in the same quarter of the last financial year was Rs 224.91 crore.
Total income fell 16.34 per cent to Rs 2,017.46 crore in the January-March quarter of 2023-24 from Rs 2,411.56 crore a year ago, according to regulatory filings.
During the period under review, the company's expenses came down to Rs 1,993 crore as compared to Rs 2,105.74 crore a year ago.
The company said FY24 was a challenging year due to external headwinds in the fertilizer and industrial products sectors.
“FY23-24 was a challenging year for the company due to external headwinds in both the fertilizer and industrial products sectors,” GSFCL said.
However, with a long-term debt-free position coupled with a high net worth ratio in the overall balance sheet size, the company has a strong financial position to fund its capital expenditure plans and mitigate future shocks.
Its net profit in the same quarter of the last financial year was Rs 224.91 crore.
Total income fell 16.34 per cent to Rs 2,017.46 crore in the January-March quarter of 2023-24 from Rs 2,411.56 crore a year ago, according to regulatory filings.
During the period under review, the company's expenses came down to Rs 1,993 crore as compared to Rs 2,105.74 crore a year ago.
The company said FY24 was a challenging year due to external headwinds in the fertilizer and industrial products sectors.
“FY23-24 was a challenging year for the company due to external headwinds in both the fertilizer and industrial products sectors,” GSFCL said.
However, with a long-term debt-free position coupled with a high net worth ratio in the overall balance sheet size, the company has a strong financial position to fund its capital expenditure plans and mitigate future shocks.
