The net profit of Goa Carbon Ltd (GCL) for the third quarter ended on December 31, 2017 stood at Rs 22.5 crore.
The company had registered a loss of Rs 93.4 lakh for the corresponding period last financial year.
Comprehensive income has grown to Rs 22.7 crore in the quarter as against Rs 1 crore loss registered during the corresponding period last financial year.
The revenue has gone up to Rs 191 crore in the quarter as against Rs 83.2 crore dur ing the corresponding period.
The board of directors (BoDs) of GCL approved the unaudited results for the third quarter on January 6.
The board has announced interim dividend at Rs 5 per share of Rs 10 each.
The chairman of Goa Carbon Ltd, Shrinivas V Dempo said, “We are delighted to achieve 100 per cent capacity ulitisation, during the quarterly period ended December 31, 2017. We attribute this growth to a growing demand for aluminium and steel in the country which has also favoured our growth during this quarter.“
He further said, “Our outlook for the next quarter also looks strong and we are confident to maintain our position.“
Incorporated in 1967, the GCL is the second largest manufacturer of calcined petroleum coke (CPC) in India. A part of the Dempo Group, the GCL supplies CPC to leading domestic as well as international aluminum smelters.
The GCL has a total manufacturing capacity of 240,000 TPA. While it started with manufacturing facility in Goa (75,000 TPA), the GCL further augmented its capacity in 2002 by acquiring a petcoke calcining unit at Bilaspur in Chhatisgarh (40,000 TPA) and Paradeep Carbons Ltd (PCL) at Paradeep in Orissa (125,000 TPA).
The Bilaspur and Paradeep units are now merged with the GCL.