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Buoyed by higher sales, calcined petroleum coke manufacturer Goa Carbon Ltd (GCL) has recorded a 32 per cent increase in its net profit for the quarter ended June 30, 2011. The company's net profit stood at Rs 2.14 crore as against Rs 1.62 crore in the corresponding quarter last year.
The company also recorded a turnover of Rs 67.33 crore, a growth of 74 per cent over Rs 38.50 crore in the corresponding quarter last year.
Commenting on the performance, Mr Shrinivas Dempo, Chairman, GCL, said, “GCL was able to post this profit due to a considerable increase of over 74 per cent in gross sales as compared to corresponding year.”
During the quarter, three plants of the company – Goa, Bilaspur, Paradeep – were shut down between 15 and 76 days due to absence of viable export and domestic orders.
Goa Carbon's domestic customers include Nalco, Hindalco, Malco, Balco. Apart from Alcan Rio-Tinto, with which GCL has a long-term supply agreement; exports are also made to Australia, Egypt, Dubai, Oman, Greece, Iran and Saudi Arabia.
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