Goa Carbon posts Rs 1,103.69 lakh profit in Q2

Goa Carbon posts Rs 1,103.69 lakh profit in Q2 The Board of Directors of Goa Carbon Ltd (GCL) on Monday approved the unaudited results for the second quarter ended September 30, 2012 announcing a profit of Rs 1,103.69 lakh. A Dempo group company, GCL is the second largest manufacturer of Calcined Petroleum Coke (CPC) in the country.

For the quarter ending September 30, 2012, the Q2 FY13 net income from operations stood at Rs 9,766.45 lakh as compared to Rs 13,077.36 lakh in the corresponding quarter of the previous year. The Q2 FY13 net profit stood at Rs 1,103.69 lakh as compared to a profit of Rs 407.40 lakh recorded in the corresponding quarter of the previous year, recording a jump of around 170 per cent.
For the results of the half-year ending September 30, 2012, the H1 FY13 net income from operations stood at ` 15,372.69 lakh as compared to ` 18,967.10 lakh in the corresponding period of the previous year. The H1 FY13 net profit stood at ` 432.80 lakh as compared to a profit of ` 621.47 lakh recorded in the corresponding period of the previous year.
Speaking on the company’s performance, Mr Shrinivas Dempo, Chairman, GCL, said, “Reversing the trend as witnessed in the last quarter, GCL has registered a strong net profit for the July-September quarter on the back of good export order. With operational efficiency, cost effectiveness and optimum utilisation of production capacity, GCL is confident of sustaining business growth and profitability in the coming quarters too.”
Goa Carbon’s domestic customers include NALCO, Hindalco, MALCO, BALCO. Apart from Alcan Rio-Tinto with whom GCL has a long-term supply agreement; exports are also made to Australia, Egypt, Dubai, Oman, Greece, Iran and Saudi Arabia. [NT]