Mumbai:
Shares of National Fertilizers rose nearly 6 per cent in early trade today after the company reported a stand-alone net profit of Rs 31 crore in the fourth quarter of 2015-16. The stock hit a 52-week high of Rs 35.55, up 6.27 per cent, on BSE.
On NSE, too, it scaled a 52-week high at Rs 35.60, up 6.58 per cent. The company had reported a net loss of Rs 100.6 crore in the fourth quarter of the previous fiscal.
In a BSE filing yesterday, NFL said its net income rose to Rs 1,641.7 crore in the quarter ended March 2016, from Rs 1,556.3 crore in the year-ago period.
The company’s overall expenses came in lower at Rs 1,532.6 crore as against Rs 1,616.1 crore year on year while financial costs declined to Rs 73.9 crore from the earlier Rs 110 crore.
For 2015-16, NFL reported a significant jump in its consolidated net profit at Rs 197.1 crore, from Rs 26.2 crore in the year-ago period.
For the entire year, total income of the company fell to Rs 7,776.4 crore, from Rs 8,524.9 crore a year earlier.
However, expenses were lower at Rs 7,300.9 crore in 2015-16 as against Rs 8,210.7 crore in the previous year.
