Chemical firm GHCL Ltd., has posted an 8% increase in its consolidated net profit to Rs 154.83 crore for the quarter ended September. Its net profit stood at Rs 142.84 crore in the year-ago period.
Total income declined to Rs 810.23 crore in the July-September period of this fiscal from Rs 816.65 crore in the corresponding period of the preceding year, according to a regulatory filing on Tuesday.
GHCL Ltd., is engaged in the manufacture of soda ash (Anhydrous Sodium Carbonate). Through a demerger, it has separated its spinning business into GHCL Textiles Ltd.
"We are glad to report a resilient Q2 performance, with a clear focus on operating excellence. Realisations stayed tempered during the quarter despite some increase in net imports of soda ash," R S Jalan, Managing Director of GHCL, said.
Going forward, globally, the pricing may remain range-bound as industry challenges have not yet fully resolved and potential risks persist due to the ongoing geopolitical situations, he added.
"Domestic prospects in Soda Ash look positive due to steps taken by the government to encourage production of solar glass, including the 10% import duty levied on imports. Our performance going forward will be supported by planned expansion initiatives around vacuum salt and bromine, which will start contributing from next year onwards," Jalan said.
Overall, he said, the company remains focused on driving a highly efficient business that prioritises profitable growth in a constrained environment.
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