GHCL Q3 net profit declines 60% – Times of India

AHMEDABAD: Leading soda ash maker, GHCL on Saturday posted a 60% decline in its consolidated net profit for the third quarter of FY 2024. The company’s profit settled at Rs 99.85 crore during the quarter, down from Rs 254.07 crore in the corresponding quarter of FY 2023, GHCL said in its stock exchange filing.
This is the second consecutive quarter when the soda ash manufacturer’s profits have sizeably declined. GHCL posted Rs 142.84 crore of profits during the second quarter of FY 2024, which was 51.4% lesser against the corresponding quarter.
GHCL’s revenue from operations declined 27.6% to Rs 797.33 crore as compared to Rs 1,101.62 crore during the said period. The company’s total expenses in the December quarter were at Rs 679.94 crore, down 11.3% as compared to the corresponding quarter.
As part of the recently concluded Vibrant Gujarat Global Summit (VGGS) 2024 held in Gandhinagar, GHCL signed a Memorandum of Understanding (MoU) worth Rs 3,450 crore, with the state government.
GHCL’s share prices stood at Rs 579.5 apiece on BSE as the market closed on Friday.

Leave a Reply

Your email address will not be published. Required fields are marked *