Gujarat Ambuja Cements Quarterly Net Profit zooms to Rs.244.66 Crores, declares 75% dividend

Gujarat Ambuja Cements Ltd has announced the following Unaudited results for the quarter ended September 30, 2006:

The Company has posted a net profit of Rs 2446.60 million for the quarter ended September 30, 2006 as compared to Rs 752.80 million for the quarter ended September 30, 2005. Total Income (net of excise) has increased from Rs 6486.20 million for the quarter ended September 30, 2005 to Rs 10099.40 million for the quarter ended September 30, 2006.

The Consolidated results are as follows:

The Group has posted a net profit of Rs 2799.50 million for the quarter ended September 30, 2006 where as the same was Rs 1080.60 million for the quarter ended September 30, 2005. Total Income (net of excise) is Rs 10312.40 million for the quarter ended September 30, 2006 where as the same was Rs 6706.60 million for the quarter ended September 30, 2005.

The consolidated results for the current quarter and fifteen months do not include results of Ambuja Cement India Ltd (ACIL), Ambuja Cement Eastern Ltd and Kakinada Cements Ltd, which have ceased to be subsidiaries of the Company. ACIL has since become an Associate of the Company and the share of profit of Associate has been recognised. Further, during the quarter ended March 31, 2006 the Company sold its investments in certain subsidiaries, joint ventures and an associate. Accordingly, results for the current quarter and fifteen months are not strictly comparable with those of the corresponding period of the previous year.

The Board at the said meeting has also approved payment of 2nd interim dividend for the 18 month period ending December 2006 of 75% on equity shares of the Company i.e., Rs 1.50 per share of Rs 2/- each.

Source : Equity Bulls

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