Guj Ambuja Exports Ltd NP up by 70 pc at Rs 11.52 cr for 1st qutr

Mumbai, Oct 16 (UNI) Ahmedabad based Gujarat Ambuja Exports Ltd has declared the net profit high by 70 per cent at Rs 11.52 crore for the first quarter ended September 30, 2006 as against Rs 6.75 crore for the same period last year.

Company CMD Vijay Kumar Gupta told mediapersons here today,''The company reported a turnover of Rs 358 crore as against Rs 316 crore of corresponding period of last year, thereby showing a jump of 13 per cent. Based on the performance, the company's Earning Per Share (EPS) is Rs 0.83 per share of Rs 2.00 as compared with Rs 0.48 of corresponding period last year.

The company reported improvement in performance of all segments including cotton yarn which reported a turnover of RS 43.77 crore for the quarter as against Rs 32.64 crore for the corresponding period of last year showing a growth of 34 per cent, he added.

The Board of Directors at its meeting also presented the update on ongoing projects and capital expansion at its Cotton Yarn division and Maize processing unit, where investments of more than Rs 331 crore are projected to be made during the next 18 months.

UNI AR PM AW1423