Gujarat Ambuja FY05 net at Rs 518cr

Gujarat Ambuja Cement today reported a consolidated net profit at Rs 518.09 crore for the year ended June 30, 2005 as against Rs 362.43 crore in FY04.

According to a release issued by the company to the BSE today, total income increased to Rs 3,180.15 crore in FY05 from Rs 2,474.15 crore in FY04.

The board has recommended a final dividend of 30% on the enlarged capital arising out of the bonus issue in the ratio of 1:2. "With an interim dividend of 60% paid during the year, the total dividend for the year 2004-05 works out to 90% as against 80% in the previous fiscal," the release added.

Giving an outlook for the current fiscal, the release said: "The current year has begun with a very good cement demand. Despatches increased by 12% in the first quarter. Economy is growing very well, and, on the back of a good monsoon, it is expected that overall economic growth and growth in construction sector will be very good. This augurs well for the cement industry, which is likely to grow at around 8% during the current year."