The Hindu Business Line : Gujarat Ambuja Q4 net up 24 pc; to pay 30% final dividend

MUMBAI: Gujarat Ambuja Cements Ltd (GACL) has reported a 24 per cent increase in net profit at Rs 145.2 crore for the fourth quarter ended June 30 against Rs 117.2 crore in the corresponding period last year.

Total income (net of excise) was Rs 733.6 crore for the quarter (Rs. 587.75 crore).

For the year ended June 30, 2005,the company posted a net profit of Rs 468.3 crore (Rs 336.8 crore) growing 39 per cent over the previous year. Total income (net of excise) was Rs 2,680.3 crore for the year, against Rs 2,015.78 crore in the last fiscal.

The figures, said a company statement, are not strictly comparable on account of the current quarter not including the figures of Ambuja Cement India Ltd, which ceased to be a subsidiary of the company with effect from April 1, 2005. In addition, Ambuja Cement Rajasthan merged with the company on June 1, 2004.

For the year ended June 30, GACL reported a consolidated 43 per cent increase in net profit, which rose to Rs 518 crore from Rs 362.4 crore the previous fiscal.

Volume sales increased by 22 per cent, and cement prices by six per cent, leading to sales increase of 28 per cent, at Rs 3085.47 crore (Rs 2414.96 crore).

In addition to this, other income rose considerably, too. Exchange rate differences accounted for Rs 32.46 crore (up by 236 per cent from last year) and investment returns accounted for Rs 62.22 crore (up by 26 per cent).

And, despite a "phenomenal" increase in cost of furnace oil and coal, operating efficiency and better productivity led to a higher operating margin of 30 per cent for the year, said Mr Anil Singhvi, Executive Director, GACL.

Operating profit rose 31 per cent, to Rs 927.82 crore, up from Rs 709.87 crore.

The company has announced a final dividend of 30 per cent, which brings the total dividend for the year to 90 per cent.

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