Guj Ambuja net soars

Mumbai, January 24: | Updated: Jan 25 2002, 05:30am hrs
Boosted by an increase in volumes, Gujarat Ambuja Cements Ltd has posted a 90 per cent increase in the net profit for the second quarter ended December 31, 2001 at Rs 57.16 crore as compared to Rs 32.55 crore for the corresponding quarter last year.

Net sales during the second quarter was also higher by 17.39 per cent at Rs 350.08 crore as against Rs 298.22 crore in the corresponding quarter the previous year. Other income during the quarter stood at Rs 5.06 crore as compared to Rs 2.16 crore in the same quarter last year.The earning per share has also increased to Rs 3.28 from Rs 2.05 for the same quarter last year.

According to industry analysts, the huge jump in net profit has been possible due to the increase in volumes sold by the company.

The company has reported that the construction of its new greenfield cement plant (Maratha Cement Works) at Chandrapur in Maharashtra is almost complete and the load trials have begun.

The company said in a press statement that during the current quarter the quantity of cement sold has increased by 18 per cent as against the same quarter of the previous year.

Samtel net profit falls

Samtel Color Ltd has posted a 24 per cent drop in net profit at Rs 13.48 crore on a lower turnover of Rs 196.74 crore for the quarter ended December 2001. The companys net profit fell on account of a deferred tax liability of Rs 8 crore in this quarter. Its net profit in the corresponding period previous year stood at Rs 17.75 crore on a turnover of Rs 202.68 crore. The company posted an 11 per cent increase in the operating profit at Rs 38.31 crore for the quarter-ended December 2001 as against Rs 34.26 crore in the corresponding period the previous year. Operating profit margin for the current quarter was 22 per cent as against 19 per cent in the quarter ended December 2000.

Apollo records growth

Apollo Hospitals has reported a turnover of Rs 89.3 crore for the quarter ended December 2001, a growth of 18 per cent over the corresponding period previous year. The cumulative turnover for the nine-month ended December 31, 2001 stood at Rs 266.1 crore, a growth of 17 per cent over the previous year. The profit before tax for the same period stood at Rs 32 crore, higher by 7 per cent over the corresponding period previous year.

Pfizer Q4 net up 21%

Pfizer Inc, the worlds largest drugmaker, on Wednesday posted a 21 per cent rise in fourth-quarter operating earnings on stellar pharmaceutical sales, including cholesterol-fighter Lipitor, which Pfizer said is now the worlds top-selling medicine. Pfizer, with an industry-leading stable of prescription drugs that also includes impotence pill Viagra, reported earnings of $2.11 billion before unusual items.

Samsungs growth up

Samsung India Electronics Ltd, a division of Samsung India, has achieved a turnover of Rs 1,350 crore for the year 2001, a growth of 12 per cent from the Rs 1,210-crore recorded during the previous year. This was announced by R Zutshi, vice president (sales) here on Thursday. In 2002, the company expects a growth rate of 12.6 per cent and a turnover of Rs 1,520 crore.

NLC Q3 net up

Neyveli Lignite Corporation (NLC) has recorded a net profit of Rs 196.65 crore for the third quarter ended (October-Dec, 2001) against Rs 148.84 crore recorded during the corresponding period of the previous year, according to a company press release. The profit before tax stood at Rs 260.60 crore against Rs 184.73 crore in the corresponding period of last year, registering a growth of 41.07 per cent.