GHCL triples 3Q FY 2006 net profit

Soda Ash producer GHCL Limited tripled its net profit to INR 265.5 million for the 3Q FY 2006 ended 31 December 2005 from INR 73.9 million in the previous year 3Q.
Income from company operations regi…

Soda Ash producer GHCL Limited tripled its net profit to INR 265.5 million for the 3Q FY 2006 ended 31 December 2005 from INR 73.9 million in the previous year 3Q. Income from company operations registered an increase of 29% to INR 1900.4 million in 3Q of FY 2006, from INR 1473.3 million in the corresponding period of the previous year. The company attributed its strong performance in the quarter to major growth initiatives including the acquisition of a soda ash capacity in Romania and the US-based Dan River in January 2006, a company statement said. The Profit Before Depreciation Interest and Tax (PBDIT) increased 94% to INR 494.0 million in the 3Q from 255.1 million in the same quarter of the previous year. Earnings per share for the quarter were INR 2.79. “We have had a successful year, where our revenues have been driven by volume growth and our earnings by improved productivity. We are sensing an attractive business opportunity with global reach and our strength to replace the Indian success of being the lowest cost producer of soda ash to overseas locations as well”, GHCL Ltd Chairman Sanjay Dalmia said.