Goa Carbon posts Rs 8.03 cr profit for Q4 FY14

PANAJI: Goa Carbon (GCL), a subsidiary of the Dempo Group, posted a net profit of Rs 8.03 crore for the January-March period of 2013-14 against Rs 5.16 crore in the year-ago period.

GCL is the second largest manufacturer of calcined petroleum coke (CPC) in India. A part of the Dempo Group, GCL supplies CPC to leading domestic as well as international aluminum smelters.

Net sales stood at Rs 84.88 crore in the quarter compared to Rs 84.49 crore recorded in the corresponding quarter of the previous year, a company spokesman said.

"The year 2013-14 was challenging due to recession, foreign exchange volatility and sluggish demand for the product from end users," GCL Chairman Shrinivas Dempo said.

"In its its meeting on April 11, 2014, the Board of Directors recommended a dividend of 10 per cent for the year ended March 31, 2014, subject to approval of shareholders at the ensuing Annual General Meeting," the spokesman said.

The GCL has a total manufacturing capacity of 240,000 tonnage per annum (TPA).