Mumbai: Gujarat Narmada Valley Fertilisers Company (GNFC) has posted excellent results through record production in the first half of year 2002-03.

In its first six months of this year, ended on 30 September 2002, GNFC, through its sales turnover of Rs 721.08 crore (Rs 723.35 crore last year), has registered a net profit of Rs 51.33 crore (before Rs 10.92 crore of deferred tax provisions) for the first half of the current financial year (Rs 47.22 crore for the same period last year).

Almost all the units of the company have achieved over 100-per cent capacity utilisation and established new records of daily, monthly and half-yearly production. The company’s ammonia plant has achieved 120.30 per cent, urea plant 121.37 per cent, methanol-I plant 121.44 per cent, methanol- II plant 143.34 per cent, formic acid plant 137.89 per cent, acetic acid plant 155.23 per cent, weak nitric acid plant 117.42 per cent, ANP plant 122.47 per cent and CNA plant 109.13 per cent production capacity utilisation.

The company, on account of record productions in the fertiliser and chemical fields and the adoption of a strategic management route of effective administration and management in a cost-effective manner by the management at the helm of affairs at GNFC, has earned a distinction in the production and sales in these times of global recession.

A fertiliser and chemical major in the national and international arena, GNFC has just entered into the IT sector. The Gujarat government, in its bid to speed up the development of IT in the state, is involving GNFC in a big way for availing the basic infrastructure facilities for the IT sector.

Efficient in the electronic and communications business, GNFC is contributing towards the speedy development of IT. After establishing a state-of-the-art info-tower in Ahmedabad and the state’s first and the country’s eighth earth station at GNFC Bharuch, the state is looking up towards a positive growth in the IT sector.

GNFC is a joint-sector company situated on the banks of Narmada River in south Gujarat. Incorporated in 1976, the company has established its reputation as the leading Indian manufacturer of nitrogenous and phosphate fertilisers such as urea, ammonium nitro-phosphate, calcium ammonium nitrate and industrial chemicals such as methanol, formic acid, acetic acid and nitric acid.

The company also manufactures printed circuit boards for the electronics industry. The annual turnover of the company for the year ending March 2001 was Rs 1422.25 crore.