The Board of Directors of Goa Carbon Ltd. (GCL) approved the unaudited financial results for the first quarter ended June 30, 2019 on July 8, 2019. A Dempo group company, GCL is the second largest manufacturer of Calcined Petroleum Coke (CPC) in the country.
Highlights of the quarter -
- The Company registered a turnover of Rs. 138.91 Crores during the Q1 of FY 2019-20 as against the turnover of Rs. 124.72 Crores achieved during the Q1 of FY 2018-19.
- Due to challenging business environment, mainly on account of the significant increase in raw material prices and dumping of imported Calcined Petroleum Coke (CPC) at cheaper rates into India, the profit margins affected adversely resulting in loss of Rs.5.85 crores as compared to profit of Rs.11.59 crores achieved during corresponding quarter of the previous financial year.
- The Capacity utilization of the Company for Q1 FY 2019-20 has come down to 76% as compared to 82% of the corresponding previous quarter.
- The Company is taking necessary steps to source the raw material at competitive price from alternative sources to improve the profitability.
Shares of GOA CARBON LTD. was last trading in BSE at Rs.320.1 as compared to the previous close of Rs. 339.25. The total number of shares traded during the day was 38845 in over 2399 trades.
The stock hit an intraday high of Rs. 343.1 and intraday low of 307. The net turnover during the day was Rs. 12436891.