Mumbai, April 10: Gujarat Ambuja Cements Ltd (GACL) beat market expectations when it posted a 22 per cent growth in net profit for the third quarter ended March 31, 2003.
The company’s net profit increased to Rs 66.86 crore from Rs 54.77 crore in the corresponding previous period. Total income (net of excise) increased to Rs 482.45 crore from Rs 381.8 crore in the year-ago period.
GACL’s other income more than doubled to Rs 10.34 crore while interest costs came down to Rs 19.04 crore. The company sold 2.72 million tonnes of cement during the quarter and this showed a growth of 36 per cent from a year earlier.