Shares of Gujarat Narmada Valley Fertilizers & Chemicals tanked nearly 6 percent intraday on May 30 after the company reported a 71.6 percent decline in profit for the quarter ended March 2019.
The company in its exchange release said profit for Jan-March quarter stood at Rs 93.6 crore, compared to Rs 329 crore in the year-ago period.
Revenue slumped 18.9 percent at Rs 1,430.9 crore, against Rs 1,764.4 crore in the corresponding quarter of the previous fiscal.
The board of the company recommended a dividend of Rs 7 per equity share of Rs 10 each.
At 0928 hours, GNFC was quoting Rs 290.85, down 5.68 percent on the BSE.
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