Graphite posts net profit of Rs 62.95 cr

Kolkata, May 17 : Graphite India Limited has posted net profit of Rs 62.95 crore for the year ended March 31, 2006, as compared to Rs 48.00 crore in the preceeding year.

The company reported sales of Rs 649.40 crore during the year as against Rs 545.97 crore in the previous year.

The German subsidiary of the company during the first full year of operation performed at more than its rated capacity.

On a consolidated basis, the sales for the year has been Rs 805.83 crore as compared with Rs 593.95 crore in the previous year.

The consolidated net profit is higher at Rs 68.35 crore as against Rs 60.41 crore in the previous year.

The expansion project for enhancing the Graphite Electrode manufacturing capacity of Durgapur plant from 14000 MT to 34000 MT entailing capital expenditure of Rs 170 crore was fully commissioned during the third quarter of the year.

With this the company now figure in the top five companies of the world producing Graphite electrode with a combined capacity of 60,000 MT in India and 18000 MT in Germany.

UNI