National Fertilizers zooms over 7% as Q3 revenue doubles

Shares of National Fertilizers Limited (NFL) surged over 7 percent on February 14 on the back of the company’s robust performance in the third quarter.

The company reported a whopping 99 percent on-year growth in revenue from operations at Rs 10,137 crore for the quarter ended December 2022.

NFL’s net profit for the period came in at Rs 554 crore, as against a loss of Rs 23 crore a year before. Operating margin for Q3 was 8.02 percent compared to 0.25 percent a year ago.

Follow our live blog for all the market action

NFL’s own fertilisers (urea bentonite sulphur and bio-fertilisers) accounted for the majority of the segment revenue at Rs 5,661 crore, and fertiliser trading segment at Rs 4,133 crore.

As of 10am, the NFL stock was trading at Rs 60.15, and the current trading volumes were at 7,909,982, much higher than the 20-day volume of 5,015,888. It current market capitalisation stood at Rs 2,958 crore.

The stock had declined 19 percent since February 1, when fertiliser subsidy was cut in Budget 2023. However, the recent positive Q3 results helped revive investor confidence in the company.