Monday , 24 July 2017
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Goa Carbon Q1 net profit up 692% at `5.75 crore

NT NETWORK

 

PANAJI

The board of directors of Goa Carbon Ltd (GCL) – a Dempo Group company, approved the unaudited results for the first quarter ended June 30, on Thursday. GCL is the second largest manufacturer of Calcined Petroleum Coke (CPC) in the country.

The highlights of the quarter is that the net profit for the first quarter ended on June 30, stands at Rs 5.75 crore  as compared to Rs 0.83 crore  for the same period last year; revenue has grown by 23% to Rs 89.3 cr in Q1 vs Rs 72.6 cr YoY; EBITDA has increased by 84% to Rs 11.40 cr vs Rs 6.96 cr YoY; margins at 12.77% vs 9.58% YOY.

GCL chairman Shrinivas V Dempo said, “Increased demand for CPC in India, China consuming most of their raw material within the country and strong rupee against US$ were the major reasons for our positive financial performance in Q1. Rise in aluminium demand in the country has also favoured our growth this quarter.”

He also said, “We have clocked about 78% of our capacity utilisation out of which Paradip plant has achieved over 90% of the capacity. Increase in price has also helped us to improve our margins. Going forward, the future for CP coke industry looks promising and we anticipate robust growth.”

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