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Our Bureau

Panaji , Aug. 1

Goa Carbon Ltd (GCL), a calcined petroleum coke manufacturing company of the Goa-based Dempo Group, has reported a net loss of Rs 1.17 crore for the quarter ended June, compared to a net profit of Rs 32.35 lakh during the corresponding previous period.The company adopted the unaudited results for the fourth quarter and the full year ended June 2006.

The company management has attributed the main reason for the loss to the shutdown at the Goa and Bilaspur plants for annual maintenance, and also to the weakening of rupee against the dollar.

For the full year ended June 2006, GCL recorded sales of Rs 110.26 crore and profit of Rs 40.85 lakh.Last financial year, it had recorded sales of Rs 121.03 crore and loss of Rs 73.76 lakh for the 15-month period ended June 2005.

For the full year ended June 2006, Paradeep Carbon Ltd (PCL), a 100 per cent subsidiary of GCL, recorded sales of Rs 126.36 crore and net profit of Rs 4.16 crore.

In the previous financial year, PCL had recorded sales of Rs 104.87 crore and net loss of Rs 6.19 crore for the 15-month period ended June 30, 2005.

The Chairman of GCL, Mr Shrinivas Dempo, is optimistic about the company's prospects. "We are negotiating with our suppliers and buyers internationally on the pricing front. We hope to fetch a good deal."

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