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Profit after tax (PAT) of Gujarat Alkalies and Chemicals Limited (GACL), a company promoted by government of Gujarat, declined by 22.75% to Rs 43.99 crore in first quarter of financial year 2015-16 as against Rs 56.95 crore for the corresponding period of last year.
The company's sales turnover too fell marginally by 4.32% at Rs 472.56 crore for the quarter ended on June 30, 2015 as against Rs 493.91 crore in the corresponding period of previous year.
Speaking about the financial results, A M Tiwari, managing director of GACL stated that though the company could improve production levels, it had to face market conditions affecting the realisations for its products during the quarter.
Meanwhile, profit before tax of the first quarter stood at Rs 56.51 crore as against Rs 73.54 crore in the corresponding period of the previous year.
