Goa Carbon spurts after Q2 net loss narrows

Goa Carbon rose 5.71% to Rs 225.80 after the company reported net loss of Rs 5.03 crore in Q2 September 2020, lower than net loss of Rs 13.77 crore in Q2 September 2019.

Net sales slipped 13.3% to Rs 87.93 crore in Q2 September 2020 over Q2 September 2019. The company reported pre-tax loss of Rs 5 crore in Q2 September 2020 compared with pre-tax loss of Rs 13.75 crore in Q2 September 2019. The Q2 result was announced after market hours yesterday, 14 October 2020.

Due to the absence of viable export and domestic orders, the company's Goa plant was shut for 36 days, Bilaspur plant was shut for 69 days and Paradeep plant was shut for 28 days during the quarter.

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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