Goa Carbon Aug production falls 37% YoY

Goa Carbon said its total production declined 36.80% to 10,508.50 million tonnes (MT) in August 2020 as against 16,627 MT in August 2019.

On a month-on-month (M-o-M) basis, the company's total production fell 35.98% in August 2020 from 16,414.7 MT in July 2020.

There was no production at the company's Bilaspur plant in August 2020. The Bilaspur unit in Chhattisgarh was temporarily shut down for maintenance work from 24 July 2020.

Meanwhile, the operations at the company's Goa Unit located at St. Jose de Areal, Salcete-Goa was temporarily shut down for maintenance work from 4 September 2020.

Goa Carbon gained 4.75% to Rs 216.30, snapping its three days losing streak. The counter lost nearly 7% in last three days from its previous closing high of Rs 221.45 posted on 4 September 2020.

Goa Carbon reported a net loss of Rs 4.84 crore in Q4 March 2020, higher than a net loss of Rs 8.79 crore in Q4 March 2019. Net sales slumped 46.4% to Rs 69.22 crore in Q4 March 2020 over Q4 March 2019. The company will announce its Q1 June 2020 result today, 10 September 2020.

Goa Carbon is engaged in the manufacture and sale of calcined petroleum coke. The firm is a supplier to aluminum smelters, graphite electrode and titanium dioxide manufacturers, as well as other users in the metallurgical and chemical industries.

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