Gujarat Ambuja Cements'' standalone net profit for
the quarter ended December 31, 2006, rose by 284 per
cent, due to higher productivity and better price realisation.
Net profit for the last quarter of its 18-month fiscal
amounted to Rs338 crore, against Rs88 crore in the quarter
ended December 2005. Net sales rose 72 per cent, to
Rs1,329 crore from Rs773 crore, as the company sold
4.12 million tonnes of cement, 20 per cent higher than
in the year-ago quarter.
income for the quarter was also higher, at Rs40 crore
(a negative Rs7.6 crore), on account of exchange gains
and profit on sale of assets.
expenditure rose by 48.8 per cent, to Rs850 crore, because
of increased power, fuel and freight costs.
plans to invest Rs3,350 crore over the next two years
increasing its total capacity from 16 mt of cement to
22 mt through brownfield expansions; and its captive
power capacity to 400 MW from 240 MW. The funds will
come from internal accruals. The company will commission
two plants of 1 mt each by April this year in West Bengal
and in Uttaranchal.
company''s board announced a final dividend of 40 per
cent, or Rs0.80 per share of Rs2 each. In addition to
the two interim dividends in 2005-2006, this makes for
a dividend of 165 per cent.
board also approved the change in name of GACL to Ambuja