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Guj Ambuja net profit vaults 40%

Oct. 17 (PTI): Gujarat Ambuja Cements Ltd (GACL) has reported a 40 per cent rise in net profit at Rs 18.11 crore for the first quarter ended September 30, 2003, compared with Rs 12.93 crore posted in the same period last fiscal.

Net sales during the period under review remained flat at Rs 373.55 crore as against Rs 373.26 crore in the corresponding previous quarter, GACL said in release today.

The company sold 2.24 million tonnes of cement (2.14 million tonnes), up by 5 per cent. Due to extraordinary monsoon during the quarter, the demand of cement was low in the country at 4.50 per cent, it added.

UTI Bank Q2 net up 45%

UTI bank ltd has reported a 45.3 per cent rise in net profit at Rs 64.18 crore for the second quarter ended September 30, 2003, compared with Rs 44.17 crore in the same period last fiscal. Total income increased to Rs 540.59 crore (Rs 481.66 crore).

The board has approved a plan to make an issue of unsecured redeemable non-convertible debentures up to Rs 50 crore in one or more tranches on a private placement basis as the bank’s tier II capital.

For the first half ended September, net profit rose by 45.18 per cent at Rs 116.36 crore (Rs 80.15 crore).

Britannia net at Rs 33 crore

Britannia Industries Ltd has posted a higher net profit of Rs 33 crore for the second quarter ended September 30 compared with Rs 26.2 crore in the year-ago period. Total income, net of excise, rose to Rs 390.7 crore compared with Rs 355.2 crore in July-September 2003, the company informed the Bombay Stock Exchange today.

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