Goa Carbon gains on resuming operations at Goa unit

Goa Carbon rose 1.78% to Rs 387 after the company said that it has resumed operations at its Salcete unit in Goa after completion of maintenance work.

In a regulatory filing made during market hours today, the company said maintenance work at the Goa unit has been completed and the Kiln has been lit up from yesterday.

"After preliminary heat up, feeding of raw material will commence and normal production is likely to resume from today, the company added.

Separately, Goa Carbon said that its board will meet on Saturday, 30 October 2021, to consider and take on record unaudited financial results of the company for the quarter ended on 30 September 2021.

The company reported a net profit of Rs 0.12 crore in the quarter ended June 2021 as against net loss of Rs 5.07 crore during the previous quarter ended June 2020. Net sales rose 124.36% YoY to Rs 124.79 crore in Q1 FY22.

Goa Carbon is in the business of manufacture and marketing of calcined petroleum coke. The Goa plant has the largest mechanical sieving and screening facilities for petcoke in India. The company also has two other plants, at Bilaspur in Chattisgarh and at Paradeep in Orissa.

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