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Gujarat Alkalies‘ Q3 net soars 229% to Rs 47.32 crore

The company achieved the highest-ever net sales, profit before tax and PAT for the nine months ended December 31, GACL Chairman J N Singh said.

January 28, 2017 / 11:42 AM IST
 
 
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Gujarat Alkalies & Chemicals (GACL) posted a whopping 229.53 percent rise in net profit at Rs 47.32 crore in the quarter that ended on December 31 from Rs 14.36 crore recorded in the same period last year.Profit before tax (PBT) for the third quarter was Rs 63.33 crore, an increase of 130.79 percent from Rs 27.44 crore in the corresponding period of previous year, the PSU said.The company achieved the highest-ever net sales, profit before tax and PAT for the nine months ended December 31, GACL Chairman J N Singh said.Speaking to PTI over the phone, Singh said, “The Board of Directors of GACL, at a meeting today, approved the financial results for Q3 and nine months ended December on 31." During the nine months of FY17 (Apr-Dec), the PSU recorded net sales of Rs 1,510.29 crore, up 6.96 percent from Rs 1,412.00 crore in the same period of previous fiscal.PBT for April-December period was Rs 289.65 crore, a rise of 97.39 percent from Rs 146.74 crore a year ago.Profit after tax stood at Rs 221 crore, up 111.50 percent from Rs 104.49 crore in the same period of previous year.Singh said, "The installation of additional wind power capacity of 14.70 MW and 15MW solar power was under progress. The company is confident to commission the wind mills as per schedule by the end of the current financial year.”

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