Gujarat Alkalies and Chemicals Limited (GACL) net profits for the third quarter ended on December 31, 2011, jumped by Rs 25.94 crore, showing a jump of 35.17 per cent against Rs 19.19 crore in the same period of the previous year.
The company announced its financial results after the meeting of the company's board of directors at Gandhinagar on January 27, 2012.
The growth in profits was attributed to improvement in sales volume and price realisations for caustic soda group, caustic potash group, phosphoric acid, sodium cyanide, ploy aluminium chloride group, aluminium chloride, chlorinated parafin wax and benzyaldehyde products, the company stated in a statement.
M S Dagur, managing director of the company stated that the company has achieved net sales of Rs 440.89 crore for the quarter ended on December 31, 2011 against Rs 344.04 crore in the corresponding quarter of the previous year.
Net sales for the nine months ended on December 2011 stood at Rs 1,276.10 crore against Rs 1,022.45 crore in the corresponding period of the previous year despite competitive market conditions, he informed.
Profit after tax for the nine month period increased by 87.59 per cent to Rs 109.40 crore as compared with Rs 58.32 crore in the corresponding period of the previous year.
Commenting about company's projects, Dagur further mentioned that the company has already got three projects registered with United Nations Framework Convention on Climate Change (UNFCCC) under Clean Development Mechanism (CDM) projects and has taken action for few more projects including wind mill projects to be registered during the financial year 2011-12.