GHCL Q3 net rises 5.46% at Rs 24.71cr

New Delhi, Oct 30 (UNI) GHCL Ltd, multi product organisation engaged in the chemicals and textile business, today posted a growth of over five per cent in its net profit for the third quarter ending September 30, 2006, at Rs 24.71 crore as against Rs 23.43 crore during the corresponding period last year.

The net sales of the company increased by 17 per cent to Rs 194.30 crore from Rs 165.64 crore in the same period last year.

''We are looking forward to a strong growth in the coming times both in the area of soda ash and textiles,'' GHCL Chairman Sanjay Dalmia said.

The earning per share (EPS) also rose by 6 per cent at Rs 2.60 during the July-September quarter this CY from Rs 2.46 in the same quarter a year ago.

During the nine months ending September 2006, the net profit of the company increased by 28 per cent to Rs 83.86 crore from Rs 65.57 crore reported in the same period last year.

The net sales during January-September, rose by 31 per cent to Rs 603.98 crore from Rs 459.98 crore reported in the corresponding period.

The company, through its oversees subsidiary acquired a majority stake in SC Bega Upsom SA, a leading soda ash manufacturer in Romania and signed a definitive agreement to acquire the second and only other plant in Romania thereby set to increase its capacity to 7,00,000 MTPA.

GHCL is also implementing its increase in soda ash capacity from 6,00,000 MTPA to 11,00,000 MTPA at plant in Gujarat, achieving the leadership position in the domestic soda ash market, Mr Dalmia added.

GHCL Ltd has signed an agreement to acquire over 100 per cent of the shares of UK's largest home textiles retailer- Rosebys. The acquisition has been done at a cost of 50 million dollars.

UNI KR PV RK1839