Guj Ambuja clocks 50% net jump

BS 200 SCORECARD

Gujarat Ambuja Cements has posted a 50.4 per cent increase in its net profit to Rs 89.55 crore for the quarter ended December 31, 2004. against Rs 59.54 crore in the corresponding quarter previous year. Net sales stood at Rs 619.83 crore up, 42 per cent compared with Rs 435.50 crore in the same period previous year.

The company attributed its performance to the increase in demand across the country. Also the company's other income during the quarter witnessed an almost four-fold increase to Rs 40.84 crore from Rs 9.71 crore primarily on account of exchange difference on foreign currency borrowings.

Demand during the quarter grew by 12 per cent on the back of housing and infrastructure growth. However, prices were hit owing to intense competition in certain pockets.

Operating profit for the quarter was 176.81 crore against Rs 112.6 crore in the previous year. Earnings per share on a diluted basis stood at Rs 5.09