India's Gujarat Narmada Valley Fertilizers & Chemicals up on strong results

Gujarat Narmada Valley Fertilizers & Chemicals

13/08/2021 07:41

** Shares of industrial chemicals and fertilizers co
 GNFC.NS  rise as much as 4.6%, their biggest percentage gain in
over seven weeks
    ** June-qtr consol net profit rises to 2.42 bln rupees
($13.46 million) compared to 29.7 mln rupees year ago; revenue
nearly doubles to 13.94 bln rupees 
    ** Co attributes "substantial increase" in performance to
improved sales volume and buoyant chemical products realizations
    ** Says it recorded its second-highest ever Q1 revenue from
operations, and its highest ever profit after tax figures
    ** Co continues to be debt free and cash rich - GNFC    
    ** As of last close, GNFC is up about 66% YTD


($1 = 74.2820 Indian rupees)

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com))