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Our Bureau

Ahmedabad, Jan. 22

Gujarat NRE Coke Ltd has shown 81 per cent increase in net sales from Rs 96.51 crore in the quarter ended December 31, 2005, to Rs 174.64 crore in the current fiscal's corresponding quarter, the company announced on Monday after its board of directors reviewed the unaudited financial results. Its PBIDT has gone up 18 per cent to Rs 21.27 crore while PAT is up 10 per cent at Rs 13.77 crore, it said in a release here.

The improvement in bottomline has come about partly due to better realisations as, globally, the price of low-ash metallurgical coke has doubled to Rs 1,000 per tonne during the last one month and is set to firm up further. The company's Vice-Chairman and Managing Director, Mr Arun Kumar Jagatramka, said with the projected production of 100 million tonnes of steel by 2020, the demand for coke will increase from 25 mt in 2006 to 65 mt in 2020.

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