New Delhi

Gujarat State Fertilisers and Chemicals Ltd (GSFC) has reported 2 per cent rise in its net profit at Rs 103.47 crore for the quarter ended December 2014.

It had posted a net profit of Rs 101.20 crore in the year-ago period.

Net sales, however, fell to Rs 1,309.39 crore during the third quarter of this fiscal as against Rs 1,458.40 crore in the corresponding quarter of the previous year, GSFC said in a filing to the BSE.

Despite lower sales, GSFC was able to post profit as its expenditure too declined to Rs 1,194 crore during October- December quarter against Rs 1,359 crore in the previous year.

Its finance cost also came down to Rs 4.31 crore from Rs 14.08 crore during the period under review.

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