Goa Carbon posts Rs 162.76 lakh profit in Q1

The Board of Directors of Goa Carbon Ltd. (GCL) recently approved the unaudited results for the first quarter ended June 30, 2010. A Dempo group company, GCL is the second largest manufacturer of Calcined Petroleum Coke (CPC) in the country.

The company recorded a sales turnover of Rs 3850.66 lakh for the first quarter ended June 30, 2010 compared to Rs 5168.86 lakh recorded in the corresponding quarter of the previous year. The company recorded a net profit of Rs 162.76 lakh for Q1 FY11 compared to a net loss of Rs. 481.60 lakh for the corresponding quarter in previous year. The company also declared a dividend of Rs 2 per equity share during the Annual General Meeting held on August 7, 2010.

Commenting on the performance, Mr. Shrinivas Dempo, Chairman, GCL, said, “The Company’s sales were affected during the quarter due to reduction in viable export orders as a result of which the company’s plants were shut for periods ranging from 46 to 61 days. But, GCL was able to post a net profit in current Q1 as against a net loss in the previous Q1 due to stringent cost control measures. ”

Goa Carbon’s domestic customers include Nalco, Hindalco, Malco, Balco, etc. 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.

About Goa Carbon Ltd.
Incorporated in 1967, Goa Carbon Ltd. (GCL) is the second largest manufacturer of Calcined Petroleum Coke (CPC) in India. A part of the Dempo Group, GCL supplies CPC to leading domestic as well as international aluminum smelters. GCL has a total manufacturing capacity of 240,000 TPA. While it started with manufacturing facility in Goa (75,000 TPA), GCL further augmented its capacity in 2002 by acquiring a petcoke calcining unit at Bilaspur in Chhatisgarh (40,000 TPA) and Paradeep Carbons Ltd. (PCL) at Paradeep in Orissa (125,000 TPA). The Bilaspur and Paradeep units are now merged with GCL. For more details visit us at www.goacarbon.com