Gujarat Alkalies net rises 45% to Rs 162.3 cr

The city-based Gujarat Alkalies & Chemicals (GACL) Thursday reported a 45 percent rise in net income at Rs 162.3 crore for the three months to December on higher revenue following the commissioning of two plants. Net sales rose to Rs 798.33 crore from Rs 611.74 crore in the corresponding period previous year, managing director PK Gera said.

He said the during the quarter company commissioned two plants-a hydrogen peroxide unit in Dahej and a brownfield expansion of the chloro methane plant in Vadodara, which lead to higher revenue. Gera said the company is on a massive expansion drive with various projects under implementation such as the hydrazine hydrate plant, a new phosphoric acid unit, a new chloromethane unit, a 20-mw solar power plant, a stable bleaching powder plant, and an anhydrous aluminium chloride and chlorotoluene plant.

He said the work on all these projects are progressing satisfactorily and are expected to be completed by as per the original schedule--next financial years..