National Fertilizers (NFL) surged 8.45% to Rs 60.30 after the company reported consolidated net profit of Rs 554.03 crore in Q3 FY23 as against a net loss of Rs 23.08 crore in Q3 FY22.
Revenue from operations soared 99.1% year on year (YoY) to Rs 10,137.34 crore in the quarter ended 31 December 2022.The company reported profit before tax of Rs 751.74 crore during the quarter as compared with a pre-tax loss of Rs 20.17 crore in the corresponding quarter last year.
During Q3 FY23, total expenses spiked 84.69% YoY to Rs 9,384.06 crore. Power & fuel cost was at Rs 4,040.27 (up 270.91% YoY), cost of materials consumed stood at Rs 2,805.30 crore (up 65.45% YoY), employee benefits expense was Rs 213.28 crore (up 35.98% YoY) and finance cost was at Rs 131.96 crore (up 81.51% YoY).
NFL is engaged in producing and marketing urea, neem coated urea, bio-fertilizers (solid and liquid) and other allied industrial products. As of 31 December 2022, the Government of India held 74.71% stake in NFL.
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