GACL net profit up 78% on improved realisations

State-run Gujarat Alkalies and Chemicals Ltd (GACL) has registered 78 per cent rise in the net profit for second quarter ended September 2012 at Rs 66.01 crore, up from Rs 37.06 crore in the same period last year.

Company's net sales for the quarter stood at Rs 480 crore against Rs 417 crore last year, the company informed in a statement filed with the Bombay Stock Exchange (BSE) on Tuesday.

For the fist half period ending September 2012, the company registered net sales of Rs 918 crore, up from Rs 835 crore in the corresponding period last year.

Net profit for the period increased by 45 per cent at Rs 121 crore against Rs 83 crore in the same period last year.

Improvement in the profit is mainly attributed to better realisation in different segments including caustic soda group, caustic potash group, phosphoric acid etc, the company stated in a statement.

Company's earnings per share for the second quarter stood at Rs 33.04 per share as compared to Rs 20.92 per share for the year ended March 31, 2012. Return on equity improved from 8.15 per cent for fiscal 2011-12 to 14.34 per cent.

GACL shares closed marginally positive on Tuesday at Rs 134.3 up by 0.19 per cent from previous close on the BSE.