Gujarat Amuja Cements Ltd, India’s third-biggest cement maker by capacity, reported on Thursday a 50 per cent jump in quarterly earnings, buoyed by strong shipments and firm prices. Gujarat Amuja, which owns a near 14 per cent stake in rival Associated Cement Companies Ltd, said net profit in its fiscal second-quarter ended December rose to 895.5 million rupees ($20.4m) from 595.4 million. A Reuters poll had forecast the company’s net profit to grow by 25 percent from a year ago to a median 745 million rupees. Turnover grew 42 percent to 6.19 billion rupees, compared with Reuters polls estimate of 6.28 billion rupees. Published under Cement News
Gujarat Amuja Cements Ltd, India’s third-biggest cement maker by capacity, reported on Thursday a 50 per cent jump in quarterly earnings, buoyed by strong shipments and firm prices. Gujarat Amuja, which owns a near 14 per cent stake in rival Associated Cement Companies Ltd, said net profit in its fiscal second-quarter ended December rose to 895.5 million rupees ($20.4m) from 595.4 million. A Reuters poll had forecast the company’s net profit to grow by 25 percent from a year ago to a median 745 million rupees. Turnover grew 42 percent to 6.19 billion rupees, compared with Reuters polls estimate of 6.28 billion rupees. Published under Cement News
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