Gujarat Alkalies Q3 net up 229% to Rs 47.32 crore

Gujarat Alkalies & Chemicals Ltd (GACL) has posted a whopping 229.53 rise in net profit at Rs 47.32 crore in the third quarter ended December 31 from Rs 14.36 crore recorded in the same period last year.
Profit Before Tax (PBT) for the third quarter was Rs 63.33 crore, an increase of 130.79 per cent from Rs 27.44 crore in the corresponding period of previous year, the city- based State PSU said today.
The company has achieved the highest-ever net sales, profit before tax and PAT for the nine months ended December 31, GACL Chairman J N Singh said today.

Talking to PTI over phone, Singh said "The Board of Directors of GACL, at a meeting today, approved the financial results for Q3 and nine months ended December on 31."
During the nine months of FY17 (Apr-Dec), the PSU recorded net sales of Rs 1,510.29 crore, up 6.96 per cent from Rs 1,412.00 crore in the same period of previous fiscal.
PBT for the April-December period was Rs 289.65 crore, a rise of 97.39 per cent from Rs 146.74 crore a year ago. Profit After Tax stood at Rs 221.00 crore, up 111.50 per cent from Rs 104.49 crore in the same period of previous year.

Singh said, "The installation of additional wind power capacity of 14.70 MW and 15MW solar power was under progress. The company is confident to commission the wind mills as per schedule by the end of the current financial year.