Graphite India slips 5%, nears 52-week low on Rs 353 crore net loss in Q3

The management said that during the quarter, the company's performance was significantly impacted due to lower volumes and realizations.

Shares of Graphite India slipped 5 per cent to Rs 268 on the BSE on Monday after it reported a consolidated net loss of Rs 353 crore in December quarter (Q3FY20), due to steep fall in electrode prices.

The graphite electrode manufacturer had posted a consolidated net profit of Rs 764 crore in the same quarter last fiscal. The stock was trading close to its 52-week low level of Rs 255 touched on October 9, 2019.

The company posted first quarterly loss in more than one decade. Earlier, in June 1997 quarter, it had posted net loss of