AMBUJA CEMENT EASTERN LIMITED
PRESS RELEASE
October 31, 2003
GOOD PERFORMANCE BY AMBUJA CEMENT
EASTERN LIMITED
Ambuja Cement Eastern Limited (ACEL) a subsidiary of
Gujarat Ambuja Cements Limited, has performed well during the first quarter of
the financial year ending 30th June, 2004. The company earned a Net
Profit of Rs. 3.18 crores as against a loss of Rs. 0.36 crores.
ACEL sold 2.99 lac tonnes of cement as
against 2.54 lac tonnes of cement in the corresponding quarter of the previous
year, an increase of 18%. Turnover is up 14% to Rs. 73.82
crores as against Rs.64.98 crores in the first quarter of the previous
year.
Operating Profit is up 20% at Rs. 12.89
crores as against Rs. 10.75 crores as compared to the same quarter of the
previous year. Interest cost is substantially lower at Rs. 2.85 crores as
against Rs. 4.91 crores, a decrease of 42%. This has helped ACEL to
nearly double its Cash Profit to Rs. 10.04 crores as against Rs. 5.84
crores in the corresponding quarter of the previous year. After charging
depreciation of Rs. 6.32 crores (Rs. 6.20 crores in the previous year)
the company has earned a Net Profit of Rs. 3.18 crores as against a loss
of Rs. 0.36 crores.
The above performance of ACEL was on account of
improved productivity, operational efficiencies, efficient financial management
and better sales mix.
Click
here for Unaudited Quarterly Financial Results
ANIL
SINGHVI
DIRECTOR