News headlines

from Daijiworld's special correspondent in Panaji

Panaji, Apr 27: (Thursday, 12-15 am): The Goa Carbon Ltd. (GCL), a part of the Rs. 1,100 crore Dempo Group and the second largest manufacturer of Calcined Petroleum Coke (CPC) in the country, has posted Rs 252.73 lac profit in 9-month period, company's executive chairman Shrinivas Dempo stated. 

The GCL's board of directors have adopted and approved the un-audited results for the third quarter ended March 31, 2006.

"For the third quarter ended March 31, 2006, the GCL recorded sales of Rs. 2,451.45 lac as against Rs. 3,022.34 lakh recorded in the corresponding period (January-March 2005) of the previous year," Dempo said.

The net profit before tax for the quarter was Rs. 62.39 lac as compared to a loss of Rs. 61.82 lakh during the corresponding 3-month period. The growth in profits was driven largely by increase in the selling price of CPC. The net profit works out to Rs. 34.13 lakh, as against a loss of Rs. 39.54 lac for the previous corresponding quarter, he stated.

For the 9-month period, GCL's figures look impressive, with a topline and bottomline of Rs. 8, 833.25 lakh and Rs. 252.73 lakh respectively. The 9-month EPS stands at Rs. 3.44 (not annualized), the executive chairman stated.

He said that the domestic prices of CPC have gone up, helping us get a good price for our products. Despite the reduction in turnover in the Goa Plant, due to plant shutdown for annual maintenance from March, 6, 2006, the profitability has gone up considerably.

The reduction in custom duty for our basic raw material in the last Budget also helped us increase profitability further, he said.


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