India’s GACL posts flat Q2 net profit

23 October 2008 18:08  [Source: ICIS news]

NEW DELHI (ICIS news)--India’s Gujarat Alkalies and Chemicals Limited (GACL) posted flat growth in its second-quarter results with a net profit of rupees (Rs) 837.8m ($16.95m), up just 0.72% from Rs831.2m a year ago in spite of robust growth in sales and operating profit, it said on Thursday.

The producer's net profit growth was constrained by an increased tax burden of Rs285.8m, up from Rs65.8m year on year.

The company increased net sales by 30.16% to Rs3.84bn, up from Rs2.95bn year on year.

The operating profit before interest tax and other income increased by 20.12% to Rs1.1bn, up from Rs924m year on year.

GACL is India’s largest chlor-alkali manufacturer with production complexes in Dahej and Baroda, in Gujarat State.

It also produces hydrochloric acid, diluted sulphuric acid, sodium hypochlorite, caustic potash potassium carbonate, chloromethanes, hydrogen peroxide, phosphoric acid, sodium cyanide and poly aluminium chloride.

($1 = Rs49.43)

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By: Naresh Minocha
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