Indo Gulf Corp Q2 net profit surges 35 per cent
MUMBAI: Indo Gulf Corporation, the copper and fertiliser maker from the Aditya Birla group stable, has posted a 35 per cent rise in net profit at Rs 102.99 crore (Rs 76.24 crore in Q2 of the previous year) for the second quarter on the back of a 35 per cent reduction in interest costs and a 32 per cent growth in volumes sales of copper. Net sales jumped 14 per cent to Rs 793.72 crore (Rs 693.71 crore), taking the half year net turnover to Rs 1,508.21 crore. The company appears set to top Rs 3,000 crore sales for the full year, managing director D Bhattacharya said, indicating a fourfold growth in the last four years. Bhattacharya said the jump in net earnings was possible due to stringent cost-cutting measures at all levels. He, however, added that the outlook for the copper business did not appear too bright as international prices were expected to remain depressed for another three quarters, putting pressure on the company
