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Shares of Gujarat Narmada Valley Fertilizers and Chemicals ended over 10 percent lower on Friday despite reporting a 23 percent jump in overall sales for the September quarter.

The company's EBITDA margin declined to 11.6 percent from 21 percent during the same period last year.

The weakness in operating margin was attributed to moderation in buoyancy for chemicals across the board, long term wage settlements, and higher costs.

Operating outages at the company's Bharuch complex leading to saleable volume loss also contributed to the drop in margin.

Operating profit, or EBITDA also declined 28 percent from last year.

The company's fertiliser segment did better due to higher sales volumes while the chemicals segment was impacted due to the outages at Bharuch. The operations at the said facility have now normalised, according to the company.

Shares of GNFC ended 10.4 percent lower at Rs 603.30.