GHCL net up 259% to Rs 26.55 cr

Gujarat Heavy Chemicals (GHCL) reported 259 per cent increase in its net profits for the third quarter ended December 31, 2005, at Rs 26.55 crore from Rs 7.39 crore in the same period last year. Net sales went up to Rs 169 crore from Rs 129 crore, a rise of 30 per cent. Gross sales increased by 29 per cent at Rs 190 crore from Rs 147.33 crore.

A company statement said income & PBIDT margins reflect the favourable price impact in soda ash. The integration of overseas facilities of soda ash and textiles is progressing on track, said the statement.

For the nine months ending December 2005, net profits was up by 259 per cent at Rs 71 crore from Rs 19 crore in the same period last year. Net sales were up 28 per cent to Rs 473 crore from Rs 370 crore.

"We have had a successful year, where our revenues have been driven by volume growth and our earnings by improved productivity. We are sensing an attractive business opportunity with global reach and our strength to replicate the Indian success of being the lowest cost producer of soda ash to overseas locations as well," said Sanjay Dalmia, chairman.