State-run National Fertilizers Ltd today reported more than two-fold jump in net profit at Rs 124.34 crore for the quarter ended December 31, on account of decline expenses.
The company had clocked a net profit of Rs 47.04 crore in the year ago period.
However, income from operations came down to Rs 2,331.84 crore in the October-December period of the current fiscal from Rs 2,482.80 crore in the year ago period, the company said in a regulatory filing.
The company's expenses came down to Rs 2,149.29 crore in the third quarter from Rs 2,326.82 crore.
Tax expenses also declined to Rs 20.86 crore from Rs 48.85 crore in the period under review.
NFL has five gas-based urea plants, Nangal and Bathinda in Punjab, Panipat in Haryana and two plants at Vijaipur in District Guna, Madhya Pradesh.
The company has a an annual installed capacity of 35.68 lakh tonnes and is the second-largest producer of urea in the country after IFFCO.
Shares of the company closed 5.49 per cent down, at Rs 28.80 on BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
