Buoyed by higher cement prices, Gujarat Ambuja Cements’ net profit in the September quarter was up 159% to Rs 280 crore, as against Rs 108.06 crore in the year-ago period. The company’s turnover during the quarter saw a 50% increase at Rs 1,006.2 crore (Rs 669.8 crore).
Profit before tax was up 66% at Rs 358.3 crore. Despite the severe floods in Gujarat, Maharashtra and Rajasthan, the company’s sales were up 9% to 3.21mt in the September quarter.
ACEL’s revenues were up 50% at Rs 147 crore. The process of merging AECL with GACL is progressing well and is expected to be completed by November-end, according to the GACL management.