GSFC soars 15% as Q1 profit more-than-doubles; stock up 39% from June low

Going forward, higher Agri commodity prices, Government agriculture focus, the expectation of a normal monsoon and higher reservoir levels bodes well for agriculture.

Shares of Gujarat State Fertilizers & Chemicals (GSFC) soared 15 per cent to Rs 163.80 on the BSE in Friday’s intraday trade, on the back of heavy volumes after the company reported strong June quarter results (Q1FY23), with consolidated net profit more-than-doubled at Rs 345.81 crore, supported by healthy operational income.

The fertilizer company had reported net profit of Rs 136.11 crore in a year ago quarter (Q1FY22).  On quarter on quarter (QoQ) basis, net profit grew 21 per cent from Rs 286 crore in Q4FY22. The company’s revenue from operations jumped 63 per cent YoY and 48 per