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Goa Carbon reports net profit of Rs 6.18 cr

Panaji: The Board of Directors of Goa Carbon Ltd. (GCL) approved the unaudited financial results for the second quarter ended September 30, 2018 on October 5, 2018. A Dempo group company, GCL is the second largest manufacturer of Calcined Petroleum Coke (CPC) in the country.

Highlights of the First Half of FY19: Revenue for the period is Rs. 238.23 cr in H1 Fy19 v/s Rs.239.99 cr for the corresponding period. Net profit after tax for the half year ended on September 30, 2018 stands at Rs. 6.18 cr v/s Rs. 19.51 cr for the corresponding period.

Shrinivas Dempo, Chairman, GCL, said “It has been a challenging quarter for us due to the ban imposed by the Hon’ble Supreme Court on the import of the petcoke. Restriction on the import of new raw materials and limitation on making the desired blend out of the available raw material has restricted us to fulfill orders only from the existing customers. The reduction in tonnage has impacted our profitability for the quarter under review.”

“We are optimistic that the hearing, on ban of petcoke, on October 9 by the Hon’ble Supreme court shall emerge positive for the industry.” he added. [NT]

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