GCL Q2 results show 2.78 cr net profit despite sales loss

Dempo group promoted Goa Carbon Ltd (GCL) today declared unaudited results of the second quarter with net profit of Rs 2.78 crore in comparison to the loss of Rs 5.10 crore in the corresponding period last year.

"In spite of a drop in sales due to lower export as well as domestic demand, company's profits are back in the black as against a net loss in the same quarter last fiscal," GCL Chairman Shrinivas Dempo said in the company press release.

Stringent cost control measures as well as improved efficiencies have enabled us to post profits, he said.
    
GCL, the second largest manufacturer of calcined petroleum coke (CPC) in India, released its Q2 FY11 results that show sales of Rs 63.09 crore as compared to Rs 81.73 crore recorded in the corresponding quarter of the previous year, read the press release.