Speaking to CNBC-TV18, Prem Kumar Gera, Managing Director of Gujarat Alkalies & Chemicals, posted a 229.53 percent increase in net profit in Q3 despite huge competition in the business.
Prem Kumar Gera, Managing Director of Gujarat Alkalies & Chemicals, said on Monday that the fall in power prices had reduced costs and propelled the state-owned PSU to a strong show in the third quarter.
Speaking to CNBC-TV18, Gera said the chemicals company had to contend with huge competition in the business, adding that “growth can’t be taken for granted”.
Gujarat Alkalies & Chemicals Ltd posted a 229.53 percent increase in net profit at Rs 47.32 crore in the third quarter ended December 31 from Rs 14.36 crore recorded in the same period last year.
Profit Before Tax (PBT) for the third quarter was Rs 63.33 crore, an increase of 130.79 percent from Rs 27.44 crore in the corresponding period of previous year.
The company has achieved its highest-ever net sales, profit before tax and PAT for the nine months ended December 31.
Gera said that his company was tying up with National Aluminium Company Limited to set up a Rs 2,000 crore caustic soda plant over the next three years.
For full interview, watch accompanying video...