Stock market news: National Fertilizers tanks 5% as company reports net loss in Q4

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New Delhi: Shares of National Fertilizers tanked 5 per cent on Friday after the company reported a net loss and decline in revenue in the quarter ended March 31, 2021.

The state-owned fertilizers firm reported a net loss of Rs 9.53 crore for March quarter 2020-21. However, the net loss narrowed compared to Rs 248.65 crore net loss in the same quarter previous year.

Shares of the fertilizers manufacturer tanked 5 per cent to Rs 68 on Monday. However, the counter was trading at Rs 68.90 at 11.15 am. BSE Sensex was trading 232.16 points or 0.44 per cent higher at 52,532.63 at the same time. The scrip settled at Rs 71.35 on Thursday.

Revenue from operations during the quarter under review declined 2 per cent to Rs 2,961.17 crore from Rs 3,014.43 crore in the corresponding period of 2019-20.

For the year 2020-21,

reported a consolidated profit of Rs 237.08 crore compared to a loss of Rs 181.06 crore in the previous financial year.

National Fertilizers have delivered up to 150 per cent return in the last one year. The company has gained over 80 per cent in 2021 thus far.

Revenue from operations during the year fell 9.36 per cent to Rs 11,905.66 crore compared to Rs 13,135.36 crore in 2019-20.