Gujarat Ambuja Q2 net dips 1.29%

Gujarat Ambuja Cements' net profit for the quarter ended December 30 has dipped 1.29 per cent at Rs 59.54 crore, against a net profit of Rs 60.32 crore in the corresponding quarter of the previous year.

The BS-200 company posted a decline of 6 per cent in its sales realisations compared with the the corresponding period, previous year. The Gujarat Ambuja scrip closed at Rs 299.45 on BSE losing 4.5 per cent over yesterday's close of Rs 313.55.

The turnover of the cement major has gone up by 4 per cent at Rs 434.44 crore during the reporting quarter, compared with Rs 419.34 crore in quarter ended December 2002, while the operating profit stood at Rs112.61 crore, against Rs 140.45 crore.

Interest cost came down to Rs 22.11 crore, compared with Rs 26.11 crore, a decrease of 15 per cent.