Gujarat State Fertilizers and Chemicals Limited has said that its total turn-over has risen 18 per cent to Rs. 6,253 crore during the financial year 2012-13.

The company also said that its net profit fell to Rs. 518 crore during the financial year compared to Rs. 758 crore recorded in the previous financial year 2011-2012. The board of the company had announced 100 per cent dividend and the company has also increased the pay-out ratio of 18 per cent compared to pay-out ratio of 8 per cent in the previous year.

As for the quarter from January to March, 2013, the company recorded turnover of Rs. 1696 crore compared to Rs. 1530 crore in the same quarter of the previous financial year. The net profit for the quarter was recorded at Rs. 58 crore compared to Rs. 230 crore recorded during in the same quarter of the previous year. The company said that its net profit stood at Rs. 136 crore during the third quarter of the financial year
2012-2013.

MD Atanu Chakraborty said, "The result were achieved despite shortfall in the availability of Phosphoric Acid used to manufacture of Di-Ammonium Phosphate at Sikkaand the severe slow down in the economy especially in the commodity market. The production of almost all other plants remained higher than last year."