GACL net trebles

GACL net trebles
Published: 05 February 2007

Mumbai-based cement maker Gujarat Ambuja Cements (GACL) said its October-December quarter net profit trebled to Rs 338 crore due to gains from a merger and higher cement prices.

The revenue in the same period surged 72% to Rs 1,329 crore. GACL merged Ambuja Cement Eastern with itself with effect from January 1, 2006. GACL said its board has also proposed a change in the company’s name to Ambuja Cements, subject to approvals.

The profit before tax (PBT) totalled Rs 458 crore, an improvement of 266%, while operating profit grew 168% to Rs 519 crore. There are no comparative figures available as the company changed its financial year to follow the calendar year.

But these numbers are not strictly comparable as GACL is in the process of expanding its existing capacity from 16 million tonnes to 22 million tonnes by 2009 in a phased manner.