 "Goa Carbon rallies on strong Q2 results")
Goa Carbon has rallied 16% to Rs 136, also its 52-week high on the BSE, after the company reported a net profit of Rs 4.62 crore for the quarter ended September 30, 2016 (Q2FY17). The company had posted a net loss of Rs 2.96 crore in the same quarter year ago.
Total income from operations during the quarter under review however remained flat at Rs 79 crore. Raw material cost of the company declined by 28% to Rs 45 crore against Rs 63 crore in the corresponding quarter of previous year.
The company engaged in manufacture and sale of calcined petroleum coke said its operation and its results fluctuate from period to period on account of the delivery schedule of the customers which vary from time to time.
The inability of the company to always selling prices in line with cost of imported raw material, the FOB price of which varies substantially from time to time; and exchange fluctuations arising because of the company’s dependence on imports of raw materials, it added.
At 01:13 PM, the stock was up 14% at Rs 134 on the BSE on back of three-fold jump in trading volumes. A combined 4.04 million shares changed hands on the counter on the BSE and NSE so far.
Total income from operations during the quarter under review however remained flat at Rs 79 crore. Raw material cost of the company declined by 28% to Rs 45 crore against Rs 63 crore in the corresponding quarter of previous year.
The company engaged in manufacture and sale of calcined petroleum coke said its operation and its results fluctuate from period to period on account of the delivery schedule of the customers which vary from time to time.
The inability of the company to always selling prices in line with cost of imported raw material, the FOB price of which varies substantially from time to time; and exchange fluctuations arising because of the company’s dependence on imports of raw materials, it added.
At 01:13 PM, the stock was up 14% at Rs 134 on the BSE on back of three-fold jump in trading volumes. A combined 4.04 million shares changed hands on the counter on the BSE and NSE so far.
