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National Fertilizer drops after reverse turnaround in Q1

Capital Market/ 12:23 , Jul 31, 2012

National Fertilizer fell 1.4% to Rs 74.05 at 12:22 IST on BSE after the company reported net loss of Rs 52.01 crore for Q1 June 2012, compared with net profit of Rs 5.98 crore in Q1 June 2011.

The company announced the results after market hours on Monday, 30 July 2012.

Meanwhile, the BSE Sensex was down 91.44 points or 0.53% to 17,052.24.

On BSE, 13,000 shares were traded in the counter as against average daily volume of 87,867 shares in the past one quarter.

The stock hit a high of Rs 76.15 and a low of Rs 73.50 so far during the day.

The mid-cap stock had underperformed the market over the past one month till 30 July 2012, falling 9.79% compared with the Sensex's 1.64% fall. The scrip had also underperformed the market in past one quarter, sliding 5.42% as against Sensex's 1.01% fall.

National Fertilizer's net sales rose 27.4% to Rs 1806.66 crore in Q1 June 2012 over Q1 June 2011.

National Fertilizer (NFL), incorporated in 1974, is India's largest state-run enterprise in fertilizers sector. NFL has five urea plants located at Nangal & Bathinda in Punjab, Panipat in Haryana and Vijaipur I & II plants in Madhya Pradesh. Apart from producing urea, NFL is also engaged in manufacturing & marketing of industrial products, trading of complex fertilizers and other agro products. The Government of India (GoI) holds 97.64% stake in NFL (as per the shareholding pattern as on 30 June 2012).

 



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