Ashapura posts net profit of Rs 38.88 cr

Mumbai, Nov 1: Ashapura Minechem Ltd, a leading multi-mineral solution provider, has registered a net profit of 128.57 per cent to Rs. 38.88 crore for its second quarter ended September 30 against Rs. 17.01 crore in the corresponding quarter in the last fiscal.

On a standalone basis for the quarter, the total income rose up 227.30 per cent to Rs 389.42 crore from Rs 118.98 crore during the same period, the company statement said here today.

The company said its profitability has been on a consistent upward trend for the last several years due to escalated global demand for the products particularly Bauxite, Iron Ore, Bentonite and other value added mineral solutions.

UNI