The Hindu Business Line : Gujarat Ambuja net up 225 pc

Gujarat Ambuja Cements Ltd (GACL) has reported 225 per cent increase in net profit at Rs 244.66 crore (Rs 75.28 crore) for the quarter ending September 30. Net income has gone up 52 per cent from Rs 647.28 crore to Rs 984.14 crore.

The consolidated figures reflect a 159.06 per cent rise in net profit at Rs 279. 95 crore during the quarter. Net operating income grew 50.22 per cent to Rs 1,006.23 crore.

"Despite severe floods in Gujarat, Maharashtra and Rajasthan, the company sold 3.21 million tonnes of cement for the reporting quarter. This is 9 per cent more than the year ago quarter," said a press release issued by the company.

The group's associate company Ambuja Cement Eastern Ltd (ACEL) has logged a 450-per cent rise in net profit to Rs 33 crore.

The merger of ACEL with Gujarat Ambuja would be completed by end November 2006, said the press note.

The board of GACL has announced an interim dividend of 75 per cent (Rs 1.50 per share) for the 18 months period ending December 2006. This is in addition to the interim dividend of 50 per cent announced in April 2006 on equity share capital of Rs 271.02 crore.

More Stories on : Financial Performance | Cement | Gujarat Ambuja Cements Ltd

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