GACL Q3 net profit up by 28%

AHMEDABAD: Vadodara-based state PSU, Gujarat Alkalies & Chemicals Ltd ( GACL) has reported net profit rise by 28.53% for the third quarter ended on 31st December 2012, despite dip in net sales.

The net profit stood at Rs 33.34 crore compared to Rs 25.94 crore in the same period of the previous year. According to the M S Dagur, managing director GACL, the net sales remained at Rs.416.56 crore for the Q3 due to market conditions during this quarter. It was at Rs.440.89 crore in the corresponding quarter of the previous year.

However, the company’s sales figure showed improvement in its nine months results, where net sales for the nine months ended on 31st December, 2012 achieved at Rs.1,334.84 crore against Rs.1,276.10 crore in the corresponding period of the previous year despite competitive market conditions.

GACL’s earning per share ratio improved at the end of the Q3 to Rs 28.07 compared to Rs 20.92 and debt equity ratio reduced.