Ashapura Minechem Q1FY07 net up by 226%

New Delhi, July 27 (UNI) Ashapura Minechem, producer and exporter of Industrial Minerals in India, today posted 226.04 per cent growth in its net profit at Rs 21.16 crore for the first quarter ended June 30, 2006 as compared to Rs 6.49 crore for the corresponding period last year.

However, the company registered 52.40 per cent increase in its turnover to Rs 269.63 crore for the first quarter as against Rs 176.92 crore in the same period last year.

''Sustained rise in the the first quarter is mainly due to continued buoyancy in overseas demand and also the company's efforts to market more value added products,'' Ashapura Managing Director Chetan Shah said.

The company is listed on Mumbai Stock Exchange, Ahmedabad Stock Exchange and the National Exchange of India Ltd.

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