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Goa Carbon gains after Paradeep unit resumes operations

Capital Market 

Goa Carbon rose 2.20% to Rs 218 after the company said its unit in Paradeep, Odisha has resumed operation from 13 September 2020.

The Kiln at the Paradeep unit was lit up from 11 September 2020. After preliminary heat up and commencement of feeding of raw material, normal production resumed from 13 September 2020.

The unit was temporarily shut for maintenance work from Saturday, 15 August 2020.

The company recorded a net loss of Rs 5.07 crore in Q1 June 2020 as against net loss of Rs 5.02 crore in Q1 June 2019. Net sales slumped 59.9% to Rs 55.62 crore in Q1 June 2020 over Q1 June 2019.

Goa Carbon is engaged in the manufacture and sale of calcined petroleum coke. The firm is a supplier to aluminum smelters, graphite electrode and titanium dioxide manufacturers, as well as other users in the metallurgical and chemical industries.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 14 2020. 09:22 IST