State-promoted Gujarat Alkalies and Chemicals Ltd (GACL) on Friday reported a 53 per cent increase in net profit and 5 per cent in sales for the fiscal ended March 31, 2013 compared to the corresponding period last fiscal, mainly due to better price realisation.

According to a company release, sales stood at Rs 1,794.31 crore (Rs 1,698.22 crore) and profit after tax stood at Rs 235.35 crore (Rs 153.61 crore).

During the fourth quarter, the sales were Rs 459.47 crore (Rs 422.12 crore), an increase of 8 per cent, while PAT was Rs 80.73 crore (Rs 44.12 crore), up 81 per cent, M.S. Dagur, Managing Director, said.

The board of directors of GACL has recommended a dividend of 35 per cent on equity shares of Rs 10 each, i.e. Rs 3.50 per share, considering the improved performance.

This performance was achieved despite competitive market conditions and depressed economic scenario and better price realisations in majority of its products, barring chloromethanes, aluminium chloride and chlorinated paraffin wax, and cost control measures, Dagur added.

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