Gujarat State Fertilizers & Chemicals Limited reported a fall in its earnings and profits during first quarter of the current fiscal primarily due to slower market conditions casued by Covid-19 pandemic.

 

Company's consolidated net revenue dropped by 4.91% YoY and stood at Rs1,636.58 crore from Rs1,721.09 crore in Q1FY20.

 

The consolidated net profit also fell by 27.62% YoY and stood at Rs 30.27 crore as compared to Q1FY20, when it reported Rs 41.82 crore. The net profit margin in Q1FY21 came in at 1.85% which declined by 0.58% yoy. The net profit margin for Q1FY20 was at 2.43%.

 

Company saw an increase in revenue for its primary business segment i.e. fertilizer products and sales stood at Rs 1431.81 crore due to good monsoon. However revenue from its other business segment related to industrial products was down YoY and sales stood at Rs 204.77 from Rs 399.77 crore in the same period of lat year.

 

EBITDA stood at Rs 90.21crore in Q1FY21 that decreased by 26.85% yoy. For Q1FY20, it had posted EBITDA of Rs123.33 crore. EBITDA margin as of Q1FY21 was at 5.51% that declined by 1.66% yoy against the same quarter, the previous year.