Gujarat Narmada Valley Fertilizers and Chemicals on Monday reported a 29.37 per cent growth in net profit at Rs 308.03 crore for the quarter ending March 31 compared to the same period of the previous financial year.
The company's PAT stood at Rs 238.77 crore during the corresponding quarter of 2019-20, Gujarat Narmada Valley Fertilizers and Chemicals said in a BSE filing.
Revenue from operations grew by 29.9 per cent during the quarter under review to Rs 1,733.03 crore compared to Rs 1,342.47 crore in the same period of the previous fiscal.
For 2020-21, the company's PAT rose by 38.14 per cent to Rs 689.21 crore compared to Rs 498.90 crore the previous financial year.
Revenue from operations dropped marginally to Rs 5,128.69 crore in FY21 from Rs 5,162.42 crore in the previous fiscal.
"In spite of slight decrease in sales volume of fertilisers as well chemicals in Q4 FY21 as compared Q3 FY 21, the revenue from operations has gone up due to better realisation of industrial chemicals," Gujarat Narmada Valley Fertilizers and Chemicals Managing Director Pankaj Joshi said.
Rise in demand from end-user industries and increasing per capita consumption are likely to support strong demand for chemicals, he added.