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GHCL’s third quarter net profit declines by 60%

Ahmedabad: Leading soda ash manufacturer, GHCL 60% posted on Saturday decline in its consolidated Net Profit For the third quarter of FY 2024. GHCL said in its stock exchange filing that the company’s profit during the quarter stood at Rs 99.85 crore, compared to Rs 254.07 crore in the corresponding quarter of FY23.
This is the second consecutive quarter when the soda ash maker’s profits have declined significantly. GHCL posted a profit of Rs 142.84 crore during Q2FY24, which was down 51.4% over the same quarter.
Operating revenue of GHCL during the said period declined by 27.6% to Rs 797.33 crore as compared to Rs 1,101.62 crore. The company’s total expenses in the December quarter stood at Rs 679.94 crore, which is 11.3% less than the same quarter.
As part of the recently concluded Vibrant Gujarat Global Summit (VGGS) 2024 in Gandhinagar, GHCL signed a Memorandum of Understanding (MoU) worth Rs 3,450 crore with the state government.
At market close on Friday, GHCL’s share price on BSE was Rs 579.5.

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