Ambuja Cement Eastern posts Rs 3.18 crore net profit in Q1
By Our Corporate Bureau | 03 Nov 2003
Mumbai: Ambuja Cement Eastern Ltd (ACEL), a subsidiary of Gujarat Ambuja Cements Ltd, has performed well during the first quarter of the financial year ending 30 June 2004. The company earned a net profit of Rs 3.18 crore as against a loss of Rs 0.36 crore.
ACEL sold 2.99 lakh tonnes of cement as against 2.54 lakh tonnes of cement in the corresponding quarter of the previous year, an increase of 18 per cent. Its turnover is up 14 per cent to Rs 73.82 crore as against Rs 64.98 crore in the first quarter of the previous year.
The operating profit is up 20 per cent at Rs 12.89 crore as against Rs 10.75 crore as compared to the same quarter of the previous year. The interest cost is substantially lower at Rs 2.85 crore as against Rs 4.91 crore, a decrease of 42 per cent. This has helped ACEL to nearly double its cash profit to Rs 10.04 crore as against Rs 5.84 crore in the corresponding quarter of the previous year.
After charging depreciation of Rs 6.32 crore (Rs 6.20 crore in the previous year) the company has earned a net profit of Rs 3.18 crore as against a loss of Rs 0.36 crore. The above performance of ACEL was on account of improved productivity, operational efficiencies, efficient financial management and a better sales mix.