The Hindu Business Line : Gujarat Alkalies full-year net down 14%

Gandhinagar, July 3State-owned Gujarat Alkalies and Chemicals Ltd (GACL) said its profit after tax for the financial year ending March 31, 2009 decreased by 14.28 per cent to Rs 192.27 crore compared with the previous fiscal’s Rs 224.08 crore. However, for the last quarter it increased by 17.60 per cent to Rs 21.58 crore (Rs 18.35 crore).

The board of directors, at its meeting held here, declared a 30 per cent dividend of Rs 3 a share priced at Rs 10. Mr Guruprasad Mohapatra, Managing Director, said that despite global recession and slowdown of Indian economy the company achieved the highest-ever net external sales (excluding excise duty) of Rs 1,386.82 crore, an increase of 22.33 per cent over Rs 1,133.63 crore in the previous year.

Net sales increased mainly due to better sales realisation and maintained volume to 9.06 lakh tonnes. For the quarter ended March 31, 2009, net sales increased by 10.82 per cent to Rs 338.99 crore (Rs 305.90 crore). He said the company has maintained the total production of 14.03 lakh tonnes and capacity utilisation of all plants at Vadodara and Dahej remained close to 100 per cent or more during the year.