National Fertilizers gets Navratna status

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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State-owned National Fertilizers Ltd on Friday (April 19) said the Department of Public Enterprise has granted “Navratna” status to the company.

“…we are pleased to inform you that the Department of Public Enterprise, Ministry of Finance, Government of India vide its letter no PD-1-26/0005/2023-DPE dated April 18, 2024, has granted the Navratna Status to National Fertilizers Limited (NFL),” according to a stock exchange filing.

#NewsFlash | Department of Public Enterprise has granted Navratna status to National Fertilizers pic.twitter.com/zGuWQveMeX

— CNBC-TV18 (@CNBCTV18Live) April 19, 2024

The term ‘Navratna’ refers to a select group of top-performing Central Public Sector Enterprises (CPSEs) that have been granted greater autonomy and financial powers by the Centre in recognition of their performance.

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National Fertilizers reported a 73% drop in consolidated net profit at ₹150.9 crore for the December quarter. The revenue dropped 25.2% YoY to ₹7,581 crore for the quarter.

Shares of National Fertilizers Ltd ended at ₹97.00, down by ₹0.24, or 0.25% on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow