Ambuja Cement Eastern profit rises by 50%

Mumbai: Ambuja Cement Eastern Ltd (ACEL), a subsidiary of Gujarat Ambuja Cements Ltd (GACL), has done very well during the financial year ended 30 June 2002. The company has made a net profit of Rs 11.83 crore as against Rs 6.89 crore, an increase of 72 per cent.

ACEL has sold 14.83 lakh tonnes of cement and clinker as against 14.35 lakh tonnes in the previous year. The turnover for the year was Rs 366.35 crore as against Rs 344.75 crore in the previous year an increase of 6.3 per cent.

The operating profit is up by 50 per cent at Rs 55.47 crore as against Rs 37.06 crore in the previous year. The O/P margin has risen to 17.6 per cent from 12.5 per cent as compared to the previous year. The net profit is substantially higher at Rs 11.83 crore as against Rs 6.89 crore an increase of 72 per cent.

This profit is after charging a higher interest of Rs 22.53 crore as against Rs 11.50 crore. The depreciation was Rs 27 crore as against Rs 18.67 crore in the previous year. The interest and depreciation are higher on account of commissioning of the grinding unit in Sankrail during the year.

The above performance was possible due to better sales realisation and continued efforts of the company to reduce costs on all the fronts, says GACL director Anil Singhvi.