Graphite reports higher Q1 net

Kolkata, Jul 31 (UNI) Graphite India Ltd today reported Q1 net profit of Rs 115.31 crore as compared with Rs 7.34 crore in the corresponding quarter on the back of increased volumes, higher realizations, better working capital management and persistent cost reduction efforts.

The Company achieved Sales of Rs.186.59 crore during the quarter under review as against Rs.122.54 crore in the corresponding quarter of previous year, registering an increase of 52 per cent.

During the quarter, the Company has realized an Extraordinary Income of Rs.96.12 crore from the sale of surplus land at Bangalore, Karnataka.

The Electrode division of the company has posted strong performance with significant increase in production and despatches consequent upon capacity expansion undertaken at Durgapur Plant, the company said in a statement.

UNI TJP JYN DB1726