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Gujarat State Fertilizers Climbs to 18-Year High in Mumbai as Net Doubles

Gujarat State Fertilizers & Chemicals Ltd. climbed to its highest level in more than 18 years after saying second-quarter profit more than doubled.

The shares climbed as much as 12 percent and changed hands at 373.4 rupees at 9.50 a.m. local time.

Net income rose to 2.07 billion rupees ($47 million) in the three months ended Sept. 30 from 772 million rupees a year earlier, the company said in a statement to the Bombay Stock Exchange today.

To contact the reporter on this story: Hemal Savai in Mumbai at hsavai@bloomberg.net

To contact the editor responsible for this story: Hari Govind at hgovind@bloomberg.net

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