Gujarat Ambuja Exports Ltd (GAEL) gained as much as 3 percent in morning trade on Thursday after the company announced the inauguration of its 1,200 tonnes per day (TPD) maize processing plant in Malda, West Bengal.
The Greenfield project with a capacity of 1,200 tonnes per day (TPD) is fully equipped with a captive power plant, effluent treatment plant and an in-house maize storage capacity of 1,20,000 tonnes, the company said in a stock exchange filing on Thursday.
With the trial production is already operational, GAEL expects the commercial production with full capacity utilisation by next quarter.
Gujarat Ambuja Exports’ revenue fell 6.21 percent year-on-year in the September quarter to Rs 1,094.02 crore. The net profit fell 37.87 percent to Rs 64.10 crore in the Q2FY23 and 44.07 percent on a quarterly basis as against Rs 114 crore in the June quarter.
Net profit margin (NPM) fell 33.75% to 5.86% in the Q2 of 2022-23 and 34.11% on a quarterly basis.
Gujarat Ambuja Exports Ltd stock was trading at Rs 262.45, up 3.02 percent, on BSE at 11.12am. In the past one month the shares have surged nearly six months while in the last one year the stock has gained 60.55 percent.
