Goa Carbon gains after consent to operate Goa plant

Goa Carbon rose 1.92% to Rs 898.10 at 13:04 IST on BSE after the company said it received consent to operate Goa plant.

The announcement was made after market hours on Friday, 9 March 2018.

Meanwhile, the S&P BSE Sensex was up 326.52 points, or 0.98% to 33,633.66.

On the BSE, 11,242 shares were traded in the counter so far compared with average daily volumes of 31,000 shares in the past two weeks. The stock had hit a high of Rs 917.95 and a low of Rs 891.65 so far during the day. The stock hit a record high of Rs 1,215.40 on 15 January 2018. The stock hit a 52-week low of Rs 104.50 on 15 March 2017.

Goa Carbon announced that the directions issued by the Goa State Pollution Control Board to suspend operations of the company's Goa plant located at St. Jose de Areal, Salcete, Goa has been revoked vide an order dated 9 March 2018.

The decision was taken by the Goa State Pollution Control Board based on the inspection carried out at the plant wherein it was observed that the plant complied with the stipulated observations.

The Goa State Pollution Control Board simultaneously issued its consent to the Goa plant to operate for three months from 9 March 2018 for trial operation with authorisation to manufacture upto 20,000 MT of Calcined Petroleum Coke.

Goa Carbon reported net profit of Rs 22.50 crore in Q3 December 2017 as against net loss of Rs 0.93 crore in Q3 December 2016. Net sales rose 159.56% to Rs 186.60 crore in Q3 December 2017 over Q3 December 2016.

Goa Carbon is in the business of manufacture and marketing of Calcined Petroleum Coke.

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