GHCL 1Q 2006 net profit up 36%

GHCL, India“s leading soda ash producer, has posted a net profit of INR 280 million for the 1Q 2006 quarter ended 31 March, up 36% year-on-year.
Net sales also increased by 17% to INR 1.75 billion a…

GHCL, India“s leading soda ash producer, has posted a net profit of INR 280 million for the 1Q 2006 quarter ended 31 March, up 36% year-on-year. Net sales also increased by 17% to INR 1.75 billion against INR 1.5 billion in the 1Q 2005, the company said 21 April 2006. The Board, for the period ended 3 December 2005 has decided to pay a dividend of 24%. “We have had a successful quarter, where our revenues have been driven by volume growth both in the soda ash and textiles segment with better earnings through improved productivity,” Chairman GHCL Ltd Sanjay Dalmia said. The company senses attractive business opportunities around the globe and its strength to replicate the domestic success of being the lowest cost producer of soda ash to overseas locations as well, he said. The firm“s soda ash capacity expansion project is progressing on schedule, the statement said. GHCL“s SC Bega Upsom soda ash operation in Romania, acquired at the end of 2005, has increased its efficiency by 30% and per day production is stabilizing at a higher capacity of 650 tonnes, up from the previous 500 tonnes per day, it said.