Latest News | GHCL Profit Rises 8pc to Rs 154.83 Cr in Sep Qtr
Get latest articles and stories on Latest News at LatestLY. Chemical firm GHCL Ltd has posted an 8 per cent increase in its consolidated net profit to Rs 154.83 crore for the quarter ended September.
New Delhi, Oct 30 (PTI) Chemical firm GHCL Ltd has posted an 8 per cent increase in its consolidated net profit to Rs 154.83 crore for the quarter ended September.
Its net profit stood at Rs 142.84 crore in the year-ago period.
Total income declined to Rs 810.23 crore in the July-September period of this fiscal from Rs 816.65 crore in the corresponding period of the preceding year, according to a regulatory filing on Tuesday.
GHCL Limited is engaged in the manufacture of soda ash (Anhydrous Sodium Carbonate). Through a demerger, it has separated its spinning business into GHCL Textiles Ltd.
"We are glad to report a resilient Q2 performance, with a clear focus on operating excellence. Realizations stayed tempered during the quarter despite some increase in net imports of soda ash," R S Jalan, Managing Director of GHCL, said.
Going forward, globally, the pricing may remain range-bound as industry challenges have not yet fully resolved and potential risks persist due to the ongoing geopolitical situations, he added.
"Domestic prospects in Soda Ash look positive due to steps taken by the government to encourage production of solar glass, including the 10 per cent import duty levied on imports. Our performance going forward will be supported by planned expansion initiatives around vacuum salt and bromine, which will start contributing from next year onwards," Jalan said.
Overall, he said, the company remains focused on driving a highly efficient business that prioritises profitable growth in a constrained environment.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)