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GNFC net profit up

Gujarat Narmada Valley Fertilizers Company Ltd (GNFC) has ended 2000-2001 with a 60 per cent increase in net profit at Rs 105.55 crore as against Rs 66.11 crore in the previous year.

Turnover was Rs 1,422.25 crore compared to Rs 1,213.48 crore in the previous year.

The board has recommended a dividend of 27 per cent.

The company said it had achieved the highest-ever production, turnover and net profit in its history of 25 years.

The company's ammonia plant has achieved 5,10,027 tonnes of production accounting for 114.48 per cent capacity utilisation and the urea plant with 6,39,325 tonnes of production accounting for 108 per cent capacity utilisation.

The Methanol I & II plants produced 37,028 tonnes and 1,45,585 tonnes respectively. Production at the formic acid plant was 10,079 tonnes and at the acetic acid plant 69,886 tonnes. Production at the weak nitric acid plant was 26,2034 tonnes, CAN plant 3 3,238 tonnes and ANP plant 1,59,030 tonnes. -- Our Bureau