June 5, 2012

India's Gujarat Narmada Valley Fertiliser's 2011-12 profit up 6%

The profit after tax of India's Gujarat Narmada Valley Fertiliser Company Ltd (GNFC) grew by 6% at INR283.84 crore (US$51 million) in 2011-12 fiscal ended March 31, 2012 against INR266.53 crore (US$48 million) in 2010-11 fiscal ended March 31, 2011.

Similarly, the net sales of the company which operates in three segments: fertilisers, chemicals and others segment that includes IT division's activities rose by 36% at INR3,862.01 crore (US$696 million) in 2011-12 against INR2,845.89 crore (US$513 million) in 2010-11

A.M. Tiwari, Managing Director said, "GNFC has declared a 35% dividend, INR3.50 (US$0.06) on a price of INR10 (US$0.18) a share"

Moreover, the company which sold 784,592 million tonnes of Industrial Products during fiscal 2011 said that its projects are being set up at an investment of about INR4,000 crore (US$720 million) at several stages of implementation.