It seems the refrigerant gas market in Asia is blooming as Indian producer Gujarat Fluorochemicals declares a second interim dividend of 100 per cent on paid up share capital.
Company accounts show earnings jumped 2.91 times for the quarter ended December 2006 with earnings risnig from Rs 203.20m ($4.6m) to Rs 591.90 million ($13.5m). The net sales for the quarter overall rose 3.06 per cent compared with the corresponding quarter, a year ago.
Promoted by Industrial Oxygen Company and Gujarat Industrial Investment Corporation, Gujarat Fluorchemicals (GFCL) was incorporated in 1987 to manufacture chloro-fluoro carbon (CFC) refrigerant gases and anhydrous hydrofluoric acid that cater to refrigeration, air-conditioning and other industrial applications. The shares of the company were trading up Rs 12.60, or 2.11%, at Rs 585.25 ($13.40)