Financial Daily from THE HINDU group of publications
Friday, Jan 25, 2002
Financial Daily from THE HINDU group of publications Friday, Jan 25, 2002 |
|
|
|
|
|
Corporate Results
-
Cement Gujarat Ambuja Q2 net up 76 pc Our Bureau
MUMBAI: Gujarat Ambuja Cements Ltd has reported a 76 per cent increase in net profit for the second quarter ended December 31, 2001 at Rs 57.16 crore as against Rs 32.55 crore during the corresponding quarter of the previous year. Net sales rose 16.9 per cent to Rs 399 crore from Rs 341 crore, with other income at Rs 5.06 crore (Rs 2.16 crore). Quantity-wise, sales rose 17.8 per cent to 18.02 lakh tonnes from 15.29 lakh tonnes. "Despite flat sales realisations, higher sales combined with lower input costs especially on account of the decrease in price of furnace oil used as power fuel led to increase profits,'' said Mr Anil Singhvi, Executive Director, at the company. Interest costs too decreased considerably, strengthening the bottomline. In addition, cement despatches at the company recorded a bumper increase of 35 per cent, year-on-year, in December led by demand from earthquake rehabilitation and reconstruction programmes in Gujarat where the company has locational advantage. Operating profit rose 16.7 per cent to Rs 121.77 crore from Rs104.28 crore. Operating profit before tax increased 90 per cent to Rs 61.91 crore from Rs 32.55 crore. Interest decreased to Rs 26.13 crore from Rs 39.03 crore. The first half-year (ended December 31, 2001) showed sales growth of 17 per cent, at Rs 739.27 crore (Rs 631.47 crore). Profit after tax, at Rs 110.39 crore, increased 92 per cent as compared to the PAT for the corresponding half year, at Rs 57.61 crore. Describing its outlook for the future, the company said the growth in demand for cement, which has increased by 12 per cent over the last five months, is expected to keep up its momentum.
Send this article to Friends by E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|