Gujarat Ambuja Cements has doubled its net profit for the fourth quarter ended June 30, 2006, reporting higher volume sales and better price realisations in both the domestic and export markets. Net profit amounted to Rs 304 crore for the fourth quarter of the six-quarter financial year that will end in December 2006, as the company brings its accounting year in line with its foreign principal, Holcim. The net profit for the corresponding quarter in the last year was Rs 145 crore.
Sales volumes at 3.77 million tonnes (3.28 million tonnes) rose 15 per cent, with better realisations yielding a 57 per cent increase in turnover, which stood at Rs 1,134 crore (Rs 721 crore). Total expenditure rose 38 per cent to Rs 691 crore (Rs 499 crore). Among the various heads of expenditure, freight and forwarding costs amounted to Rs 190 crore (Rs 105 crore) recording the steepest rise at 81 per cent. Power and fuel costs rose in proportion to sales volume rising 15 per cent to stand at Rs 199 crore (Rs 174 crore).
Operating profit, excluding exchange rate difference, amounted to Rs 452 crore (Rs 231 crore) rising 96 per cent. The EBITDA margin (excluding exchange rate difference) was 40 per cent, up from 32 per cent. Interest costs were considerably lower at Rs 12 crore (Rs 23 crore), while provision for taxation was higher at Rs 68 crore (Rs 21 crore).
On a consolidated basis, the net profit rose 110 per cent to Rs 360 crore, up from Rs 171 crore in the corresponding quarter last year. Turnover rose by 56 per cent to Rs 1,155 crore (Rs 740 crore).
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| Posted : 7/21/2006 |
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