State-promoted Gujarat Alkalies and Chemicals Ltd (GACL) has reported an increase of 28 per cent in sales turnover and 144 per cent in profit after tax (PAT) in the first quarter of 2011-12, compared with the corresponding quarter last fiscal.
Mr M. S. Dagur, Managing Director, said here that while the turnover was Rs 418.05 crore (Rs 326.80 crore), an increase of 27.92 per cent, PAT increased by 144.08 per cent to Rs 46.40 crore (Rs 19.01 crore) during the quarter.
The profit before tax (PBT) increased by 190.87 per cent to Rs 64.34 crore (Rs 22.12 crore) mainly due to improvement in price realisations of majority of the products.
On Friday, the share price of GACL at the BSE closed 1.35 per cent up at Rs 154.05.
In June, the company successfully commissioned its hydrogen peroxide expansion unit. GACL had already got three projects registered with the United Nations Framework Convention on Climate Change under Clean Development Mechanism (CDM) projects and has taken action for few more projects, including wind mill projects, to be registered during 2011-12.
Work on a 50:50 joint venture between GACL and Dow Europe GmbH for a two-lakh-tonnes-a-year chloromethanes plant at Dahej is going on at full stream.
Its Rs 2,600-crore projects are also expected to go on stream by FY 2014-15.