State-run Gujarat Alkalies and Chemicals Limited (GACL) posted a marginal rise of two per cent in net profit for the second quarter of 2014-15.
The company reported a net profit of Rs 48.68 crore for the September-ended quarter, up by 1.88 per cent from Rs 47.78 crore it reported in the corresponding period of 2013-14, a statement issued by GACL said here.
Net profit for the first half (for the first two quarters) of the current financial year rose from last year’s Rs 85.08 crore to Rs 105.63 crore, an 24 per cent increase.
The company’s net sales, the statement said, touched Rs 495.10 crore for the second quarter of the current fiscal, up from Rs 461.36 crore in the corresponding period of the last financial year.
The net sales for the first half of the current financial year touched Rs 989.01 crore. It was Rs .874.74 crore in the corresponding period of previous year.
The marginal rise in net profit for the second quarter of the current fiscal comes on the back of company’s plans to invest Rs 3,500 crore for expansion and on new projects.
The leading caustic soda manufacturer plans to set up a 120 mega watt (Mw) coal-based power project.
The company’s first quarter net profit stood at Rs 56.95 crore. It had achieved the sales turnover of Rs 497.13 crore for the quarter ended on June 30, 2014.
GACL’s annual caustic soda production capacity stands at 3,58,760 tonnes per annum (TPA).
On Tuesday, shares of the company closed at Rs 195.90, up by 1.74 per cent from Monday’s closure at Rs 192.55.
