Gujarat Ambuja Q1 profit zooms

21 October 2004

Mumbai: Gujarat Ambuja Cement's net profit for the quarter ended September 30, 2004, has zoomed up 510 per cent at Rs90.46 crore, against a net profit of Rs14.82 crore, recorded in the corresponding quarter of the previous year.

The company's net sales for the quarter stood at Rs599.38 crore, against net sales of Rs378.11 crore in the corresponding period of the previous year.

Anil Singhvi, executive director, Gujarat Ambuja, said, "There has been a 30 per cent increase in volumes due to the inclusion of Ambuja Cement Rajasthan. However, domestic as well as export realisations were significantly higher, leading to improved results."

The company's operating margins grew by 50 per cent to stand at 30 per cent, against 20 per cent in the corresponding quarter of the previous year.

The company's export volumes were up by 33 per cent at 5.22 lakh tonne, while export realisations increased by almost 22 per cent during the quarter.

The company's interest payments increased by 7.62 per cent at Rs21.02 crore, compared with Rs19.53 crore, while depreciation costs went up 23.1 per cent at Rs50.27 crore, against Rs40.82 crore in the corresponding period of the previous year.