Goa Carbon Ltd posts Rs 670.89 lakh net loss in Q1

Panaji, Aug 2 (PTI) Goa Carbon Limited, subsidiary of Dempo Group, has posted a loss for the first quarter of the current financial year.

GCL Board of Directors today announced unaudited results for the first quarter ended June 30, 2012.

Shrinivas Dempo, GCL Chairman, said, "For the three months period ended June 30, 2012, the company has accounted unrealised exchange loss of Rs 992.43 lakhs (net) mainly due to the restatement of foreign currency loans availed from overseas banks."

For the Q1 of FY13, the net loss stands at Rs 670.89 lakh as compared to a profit of Rs 214.07 lakh in the corresponding quarter of the last year.

Q1 net sales stand at Rs 5,600.24 lakh, compared to Rs 5,887.58 lakh in the corresponding quarter last year, down by 4.88 percent year on year.