Gujarat Ambuja Cement reports higher Q3 net profits

Gujarat Ambuja Cement reports higher Q3 net profits
Published: 18 April 2006

Gujarat Ambuja has recorded an increase of 108 per cent in net profit at Rs 2.98 billion (US$66m) for the third quarter ended March 31, 2006, as against Rs 1.43 billion for the same period in 2004-05. The total income for the third quarter increased 44.75 per cent to Rs 9.78 billion as compared to Rs 6.75 billion in the year-ago period, the cement major informed the Bombay Stock Exchange.

FY 2005-06 has been another very good year for the Indian economy and it is expected that the economy would have grown by around eight per cent. On the back of such a strong economic growth, the cement demand across the country is strong with most part of the country witnessing double digit growth resulting in cement despatch growth of over 11 per cent for the FY 2005-06.  The company is witnessing robust construction growth and with the infrastructure development set to gain momentum, it is expected that good cement growth will continue in the current year as well.