GACL net profit up

BS 200 SCORECARD

Gujarat Ambuja Cements Ltd (GACL) reported net profit of Rs 145.17 crore for the company's fourth quarter ended June 30, 2005, over Rs 117.2 crore reported for the corresponding period the previous fiscal.

The company registered net sales of Rs 733.58 crore for the quarter ended June 30, 2005, over Rs 587.75 crore reported during the previous corresponding period.

For the year ended June 30, 2005, GACL posted net profit of Rs 468.29 crore whereas the same was at Rs 336.79 crore for the comparable period the previous year.

The net sales stood at Rs 2,680.36 crore for the year ended June 30, 2005, whereas the same was at Rs 2,015.78 crore the previous year.

GACL has informed the Bombay Stock Exchange that the results for the current quarter and year include figures of the erstwhile Ambuja Cement Rajasthan Ltd which was merged with the company with effect from June 1, 2004.

The figures for the current quarter do not include figures for the Ambuja Cement India Ltd (ACIL) and its subsidiaries Ambuja Cement Eastern Ltd and Kakinada Cements Ltd which have ceased to be subsidiaries of the company with effect from April 7, 2005.

Subsequently, ACIL has become an associate of the company and its share of profit has been recognised. Accordingly, figures for the current quarter and year are not comparable with those of the corresponding quarter and year of the previous fiscal.

The board has recommended a final dividend of 30 per cent on the enlarged capital arising out of the bonus issue in the ratio of 1:2.

"With an interim dividend of 60 per cent paid during the year, the total dividend for the year 2004-05 works out to 90 per cent as against 80 per cent in the previous fiscal," a company release said.