Gujarat Alkalies and Chemicals on Thursday reported a 93.25 per cent decline in its consolidated net profit to Rs 11.4 crore for the quarter ended March 31. Its net profit had stood at Rs 168.93 crore in the corresponding period of 2018-19, Gujarat Alkalies said in a filing on the BSE.
Its net income from operations during the March 2020 quarter declined 24.24 per cent to Rs 621.63 crore, compared with Rs 820.55 crore in the corresponding quarter of 2018-19.
For full year 2019-20, the company's net profit declined 51.88 per cent to Rs 332.09 crore, compared with Rs 690.19 crore in 2018-19.
Gujarat Alkalies and Chemicals' net income from operations for 2019-20 dipped 13.81 per cent to Rs 2,724.59 crore in 2018-19.
"In spite of the stiff competition and unstable market conditions during the year, the company could achieve the sales turnover of Rs 2,654.20 crore and a profit before tax of Rs 491.62 crore.
"We have been consistently striving towards the cost reduction and have been able to maintain the production levels and sell its quality products at competitive rates," its Managing Director P K Gera said.
He stated that the company during 2019-20 also achieved the total production of 16,62,843 MT of various products in its basket as against 15,92,093 MT in the previous year, a 4.44 per cent annual increase.
He further said the company commissioned 10.80 TPD Anhydrous Sodium Sulphate, 50 TPD Anhydrous Aluminium Chloride, 45 TPD Stable Bleaching Powder and Wastewater Treatment Plants at Dahej Complex and 20 MW Solar Power Plant at Patan, Gujarat.
The company's shares on Thursday closed at Rs 334.20 apiece, down 3.33 per cent on the BSE.
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