Graphite India hit an upper circuit of 5% at Rs 197 after the company said it has started partial manufacturing operations at its graphite electrode plant in Satpur, Maharashtra.
Graphite India on Thursday (16 April) said it has started partial manufacturing operations at its graphite electrode plant at Satpur in Nashik, Maharashtra engaging minimum manpower, after obtaining requisite approvals from the government authorities.
On a consolidated basis, Graphite India reported net loss of Rs 353 crore in Q3 December 2019 compared with net profit of Rs 764 crore in Q3 December 2018. Net sales dropped 65.34% to Rs 643 crore in Q3 December 2019 over Q3 December 2018.
Graphite India is engaged in the manufacturing graphite electrodes, graphite equipments, steel, glass reinforced plastic (GRP) pipes and tanks and generation of hydel power. The firm operates through three segments: graphite and carbon, steel and others.
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