Q1FY21 results: GNFC records net profit of Rs 2.97 crore

Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), an Indian manufacturer of fertilizers and chemicals announced its quarterly results on August 31, 2020. The company posted a consolidated net profit of Rs 2.97 crore for Q1FY21, which declined by 95.72 per cent YoY, as compared to Q1FY20 when it reported Rs 69.44 crore.                                                                                                                                                

The consolidated net sales reported in Q1FY21 came in at Rs 700.23 crore, which declined by 42.13 per cent YoY from Rs 1,209.94 crore in Q1FY20. At EBITDA level, the company stood at negative Rs 24.25 crore in Q1FY21 that decreased by 125.22 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 96.16 crore.                                                                                                                                                               

EBITDA margin as of Q1FY21 was at negative 3.46 per cent that declined by 11.41 per cent YoY. The net profit margin in Q1FY21 came in at 0.42 per cent, which declined by 5.32 per cent YoY. The net profit margin in Q1FY20 was at 5.74 per cent.

The share of GNFC closed down by 7.53 per cent at Rs 202.7 in today’s session on BSE.