Graphite India Q3 net profit down 38.57% at Rs 34.51 crore
Graphite India reported a 38.57% drop in net profit at Rs 34.51 crore in October-December 2012 quarter, mainly on the back of increase in expenses.
By PTI | Updated:
NEW DELHI: Electrodes maker Graphite India Ltd (GIL) today reported a 38.57 per cent drop in net profit at Rs 34.51 crore in October-December 2012 quarter, mainly on the back of increase in expenses.
The country's top producer of graphite electrodes had recorded a net profit of 56.18 crore for the third quarter in the corresponding period of the previous fiscal.
The Kolkata-based firm's net sales decreased to Rs 429 crore for the third quarter ended December 31, 2012 from Rs 437 crore in the year-ago period, registering a decline of 1.82 per cent, the company said in a filing to the BSE.
Expenses saw an increase of 5.08 per cent during the quarter under review to Rs 375 crore from Rs 357 crore in third quarter of the 2010-11.
Shares of the company were trading in the afternoon at Rs 84.95 apiece, up 1.01 per cent from previous close on BSE.
GIL is the largest producer of graphite electrodes in India and one of the largest globally, by total capacity.
It has a combined manufacturing capacity of about 78,000 tonnes per annum, spread over four plants - three in India at Durgapur (34,000 tonne), Bangalore (13,000 tonne), Nashik (13,000 tonne) and one in Nurnberg, Germany (18,000 tonnes).
The company accounts for approximately 6.5 per cent of global electrode capacity.
The country's top producer of graphite electrodes had recorded a net profit of 56.18 crore for the third quarter in the corresponding period of the previous fiscal.
The Kolkata-based firm's net sales decreased to Rs 429 crore for the third quarter ended December 31, 2012 from Rs 437 crore in the year-ago period, registering a decline of 1.82 per cent, the company said in a filing to the BSE.
Expenses saw an increase of 5.08 per cent during the quarter under review to Rs 375 crore from Rs 357 crore in third quarter of the 2010-11.
Shares of the company were trading in the afternoon at Rs 84.95 apiece, up 1.01 per cent from previous close on BSE.
GIL is the largest producer of graphite electrodes in India and one of the largest globally, by total capacity.
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It has a combined manufacturing capacity of about 78,000 tonnes per annum, spread over four plants - three in India at Durgapur (34,000 tonne), Bangalore (13,000 tonne), Nashik (13,000 tonne) and one in Nurnberg, Germany (18,000 tonnes).
The company accounts for approximately 6.5 per cent of global electrode capacity.
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