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Gujarat Heavy Chemicals’ First Quarter Profit Zooms 66%
GHCL’s Profits Jump 66.5% in the First Quarter. Revenues Rise 17%
25 Jul 2016, 01:40 PM IST 
A man walks past chemical factories in Mumbai, India (Photographer: Prashanth Vishwanathan/Bloomberg News)
Gujarat Heavy Chemicals Ltd. reported a 66.5 percent year-on-year growth in profit, and a decline in liabilities in the quarter ended June 2016.
Net profit came in at Rs 172.1 crore compared to Rs 130.6 crore in the same quarter last year, the company informed the exchanges. Revenue grew 17.1 percent year-on-year to Rs 721.1 crore.
The margin on the earnings before interest, taxes, depreciation and amortisation expanded to 26.81 percent from 24.47 percent in the same quarter the previous year.
The company has re-adjusted its earnings for the first quarter of financial year 2015-16, in accordance with the Indian Accounting Standards.
Following the earnings announcement, shares of GHCL jumped as much as 8.2 percent to Rs 219.95 a piece.