Financial Daily from THE HINDU group of publications
Tuesday, Jan 28, 2003
Financial Daily from THE HINDU group of publications Tuesday, Jan 28, 2003 |
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Corporate Results
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Coal Corporate - Financial Performance Rain Calcining net up 71 pc Our Bureau
HYDERABAD: Rain Calcining Ltd (RCL), the Visakhapatnam-based calcined petroleum coke and power producer, has achieved a growth of 31.78 per cent turnover and 70.65 per cent in net profit for the third quarter of current fiscal ended December 31, 2002. For the nine-month period of current fiscal year, the net profit has more than doubled. According to the audited financial results taken on record by the board, the company achieved a sales turnover of Rs 70.46 crore against Rs 52.97 crore in the corresponding quarter of previous fiscal, other income of Rs 48 lakh (Rs 86 lakh), taking the total turnover for the quarter to Rs 70.94 crore (Rs 53.83 crore), and a net profit of Rs 8.55 crore (Rs 5.01 crore) on an equity base of Rs 129.49 crore. The company incurred an expenditure of Rs 50.22 crore during the quarter under review (Rs 35.74 crore) and provided Rs 5.75 crore towards interest (Rs 7.86 crore), Rs 5.06 crore towards depreciation and amortisation (Rs 5.03 crore), Rs 31 lakh for taxation against no such provision in the corresponding quarter and Rs 1.05 crore for deferred taxation (Rs 19 lakh). For the nine-month period ended December 31, 2002, the company registered a marginal growth of 14.1 per cent in turnover at Rs 232.3 crore (Rs 203.56 crore) and a substantial growth of 101.49 per cent in net profit at Rs 24.22 crore (Rs 12.02 crore). In terms of segment revenues for the first nine-month period, the company registered a growth of 23.77 per cent in calcined petroleum coke at Rs 140 crore (Rs 113.11 crore), a fall of 6.69 per cent in power segment at Rs 83.92 crore (Rs 89.94 crore). In terms of profit, the company earned Rs 21.66 crore from calcined petroleum coke against Rs 14.32 crore in the corresponding nine-month period, Rs 21.48 crore from power (Rs 23.28 crore) and Rs 2.17 crore from trading (Rs 20 lakh).
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