Gujarat State Fertilizers and Chemicals had surged 14.19 per cent to Rs 162.95. The company’s consolidated net profit has risen to Rs 345.81 crore in the first quarter of the current financial year compared to last year in the first quarter. The net sale had soared to Rs 3,018.15 crore at the end of the Apr-Jun quarter as against Rs 1,850.91 crore in the previous year.

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The company’s profit before tax steadily increased by Rs 508.84 crore in the June quarter against Rs 176.40 crore last year. Total expenses spiked 49.78 per cent to Rs 2,541.01 crore in Q1 FY23 over Q1 FY22. The cost of raw materials jumped 45.84 per cent to Rs 1,559.46 crore in Q1 FY23 from Rs 1,069.33 crore in Q1 FY22.

GSFC is engaged in the production of fertilizers and chemicals. GSFC is under the ownership of the Ministry of Chemicals and Petro-Chemicals, Government of Gujarat. Gujarat State Investments holds 37.84 per cent of the company.