State-run Gujarat Alkalies and Chemicals Limited (GACL) posted net profit of ₹170 crore for the quarter ended March 2019 as against ₹221 crore in the corresponding quarter a year ago, indicating a decline of about 23 per cent on year-on-year basis.
The company's turnover for the quarter stood at ₹803 crore as against ₹684 crore last year.
GACL’s Profit Before Tax was ₹249 crore as against ₹320 crore in the corresponding quarter of the previous year.
"It may be noted that the company had ₹48.17 crore as other income in the Q4 of last year, which is not there in year," the company said in a statement released on Tuesday.
As on March 31, 2019, the Earning Per Share soared to ₹93.91 as against ₹72.85 for the previous year. The Return on Equity (ROE) stood at 16.13 per cent as against 14.10 per cent in the previous year, it added.
For the fiscal 2018-19, the company achieved sales turnover of ₹3,102 crore as against ₹2,418 crore reported last year. The net profit for the year stood at ₹690 crore, up from ₹535 crore due to improvement in the margins.
"In spite of the stiff competition and unstable market conditions during the year, the company could achieve this result with consistent efforts on cost control and on maintaining production and sale of its quality products at very competitive rates," the statement added.