Graphite India net profit up by 37 per cent

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Kolkata, May 12 (UNI) Graphite India Limited jacked up its net profit by 37 per cent at Rs 133.65 crore for the last fiscal as compared to Rs 97.63. crore in the preceding year.

The company had achieved sales/income from operation of Rs 1155.87 crore during the year under review as against Rs 900.01 crore in the previous year, registering a growth of 28 per cent, a company statement said here today.

For the quarter ended March 31, 2008, the company had recorded sales/income from operation of Rs 360.20 crore as against Rs 256.67 crore during the corresponding quarter of the previous year.

The net profit for the quarter was higher at Rs 34.27 crore as compared to Rs 24.06 crore earned in the same quarter of preceding year, showing a growth of 42 per cent.

On a consolidated basis, the sales/income from operations during the year had been Rs 1388.36 crore as compared to Rs 1170.94 crore in the preceding year.

The consolidated net profit excluding exceptional income was higher at Rs 142.34 crore as against Rs 126.12 crore in the previous year.

he improvement in the operating performance despite significant appreciation of the Indian currency against other major global currencies had been made possible by increased volumes, better realisation, cost reduction and higher plant productivity.

The performance of the Electrode division of the company during the year had been satisfactory, led by firm demand and realisation, the statement added.

The company has the distinction of being the largest manufacturer of graphite electrode in South Asia with a combined capacity of 60,000 MT in India and 18,000 MT in Germany.

It exports almost 70 per cent of its graphite electrode production and continues to have a healthy order book position at substantially higher prices.


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