Gujarat Alkalies and Chemicals Ltd (GACL) today posted a 5.6 per cent jump in its standalone net profit at Rs 35.22 crore in the third quarter of this fiscal buoyed by higher sales.
The Vadodara-based company had achieved a net profit of Rs 33.34 crore in the same quarter last year.
In a filing to the BSE, the company said that net profit during the October-December of 2013-14 fiscal rose mainly due to increase in sales volumes and improved price realisation.
Net sales grew by over 22 per cent to Rs 508.94 crore in the third quarter this fiscal from Rs 416.56 crore in the same period last year.
The company's Q3 profit rose despite increase in power and employee costs, the filing added.
However in the first nine months of the current fiscal, the company's net profit declined by 22 per cent to Rs 120.30 crore as compared to Rs 154.62 crore in the year-ago period.
Net sales increased marginally to Rs 1,383.68 crore from Rs 1,334.84 crore in the review period.
GACL is the the single largest producer of caustic soda in the country with a production capacity of 1087 tonne per day. It has two units located in Gujarat.
Shares of the company rose marginally to settle at Rs 176.50 on the BSE today.
