Ashapura Minechem Q2 net nearly doubles 97.33 pc

New Delhi, Oct 19 (UNI) Ashapura Minechem Ltd today reported a 97.33 per cent rise in net profit at Rs 17.01 crore for the second quarter ended September 30, 2006, as compared to Rs 8.62 crore for the corresponding period last year.

On a consolidated basis, the quarterly turnover of the group rose by 37.33 per cent to Rs 251 crore as compared to Rs 182.78 crore during the same period a year ago.

The consolidated Earnings per share (EPS) on an annualised basis stood at Rs 34.02 as against Rs 24.36 for the last whole year for a corresponding face value of Rs 2 per share.

Ashapura Managing Director Chetan Shah attributed the group's healthy growth to its three pronged strategy-- addition of value added products, expansion of mineral portfolio and global expansion.

Ashapura Minechem Ltd, the flagship company of Ashapura Group, is a leading mine owner, processor and exporter of industrial minerals including bentonite and bauxite.

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