GHCL sales increase by 42 pc; profits by 2 pc

By Staff
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Google Oneindia News

Ahmedabad, July 30: Gujarat Heavy Chemicals Limited (GHCL) announced 42 per cent increase in sales for the first quarter ended June 30, at Rs 235.50 crore from Rs 165.70 crore.

Its net profits, however, was slightly higher at Rs 31.55 crore from Rs 31.05 crore, Sanjay Dalmia, chairam of company told reporters after the annual general meeting.

He said profits in the current quarter will by higher as the company has announced eight per cent hike in soda ash prices, which accounts nearly 63 per cent of the company's turnover.

Mr Dalmia said the AGM had also approved payment of 27 per cent dividend for the pervious year.

The company turnover has increased sharply due to increase in Home Textile segment from Rs 30.58 crore to Rs 86.96 crore. However, profits were lower at Rs 1.4 crore from Rs 1.7 crore due to appreciation of rupee.

UNI

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