Date:21/01/2005 URL: http://www.thehindubusinessline.com/2005/01/21/stories/2005012102390200.htm

Back Gujarat Ambuja Q2 net up 50.4 per cent

Our Bureau

Mumbai , Jan. 20

A 31 per cent increase in sales volumes and a 9 per cent improvement in sales realisation have helped Gujarat Ambuja Cements Ltd report a 50.4 per cent increase in net profit for the second quarter ended December 31, 2004.

Net profit for the quarter stood at Rs 89.55 crore, as against Rs 59.54 crore during the corresponding quarter of the previous year.

Sales volumes increased 31 per cent, to 3.34 million tonnes (2.55 mt) while turnover was up 42 per cent, at Rs 619.83 crore (Rs 435.5 crore).

(The company said the figures for the current quarter are not strictly comparable with the previous year's since Gujarat Ambuja Rajasthan Ltd was merged with the company with effect from June 2004 this year.)

Other income, led by exchange rate gains, increased considerably too, and amounted to Rs 40.84 crore (Rs 9.71 crore).

Total expenditure for the quarter stood at Rs 483.86 crore (Rs 332.61 crore) the increase led by power and fuel expenses, which rose to Rs 178 crore (Rs 117 crore).

Operating profit amounted to Rs 176.81 crore (Rs 112.6 crore). Interest costs declined 8 per cent, amounting to Rs 20.3 crore (Rs 22.11 crore) while depreciation amounted to Rs 49.31 crore (Rs 40.61 crore).

Operating profit before tax and prior period items amounted to Rs 107.2 crore (Rs 48.98 crore). Operating profit before tax for the year-ago quarter was higher after addition of prior period items, and amounted to Rs 85.61 crore.