Gujarat Ambuja Q1 consolidated net at Rs 360cr

Gujarat Ambuja Cements today reported a consolidated net profit of Rs 360.07 crore for the quarter ended June 30, 2006 as against Rs 171.18 crore in Q4FY05.

According to a release issued by the company to the BSE today, total income stood at Rs 1,144.41 crore as against Rs 757.91 crore in Q1FY06.

"The consolidated results for the current quarter and twelve months do not include the results of Ambuja Cement India (ACIL), Ambuja Cement Eastern and Kakinada Cements, which have ceased to be subsidiaries of the company. ACIL has since become an associate of the Company and the share of profit of the associate has been recognised. Further, in the previous quarter, the company sold its investments in certain subsidiaries, joint ventures and an associate. Accordingly, results for the current quarter and twelve months are not strictly comparable with those of the corresponding period of the previous year," the release added.

The company, on a stand-alone basis, posted a net profit of Rs 303.89 crore for the quarter ended June 30, 2006 as against Rs 145.17 crore in Q1FY06. Total income increased from Rs 733.63 crore in Q1FY06 to Rs 1,124.25 crore in Q1FY07.