Goa Carbon stock ends higher after Q2 net loss narrows

The sales of the company declined 13.34% to Rs87.93cr in the quarter ended September 2020 as against Rs101.46cr during the previous quarter ended September 2019.

Oct 15, 2020 04:10 IST India Infoline News Service

Shares of Goa Carbon closed higher on the BSE. The company reported a net loss of Rs5.03cr in the quarter ended September 2020 as against a net loss of Rs13.77cr during the previous quarter ended September 2019.

The sales of the company declined 13.34% to Rs87.93cr in the quarter ended September 2020 as against Rs101.46cr during the previous quarter ended September 2019.

The Company operates only in one segment i.e. manufacture and sale of Calcined Petroleum Coke. Other income for the quarter ended Sept 30, 2019, is net of foreign exchange loss of 37.26 lacs.

Current tax expense for the year ended March 31, 2020, includes the tax for earlier years 11.59 lacs. Due to the absence of viable export and domestic orders, the plants of the Company were shut down during the quarter ended Sept 30, 2020, as under i) Goa Plant - 36 days ii) Bilaspur Plant - 69 days iii) Paradeep Plant - 28 days.

The stock ended at Rs216.25, up by Rs2.65 or 1.24% from its previous closing of Rs213.60 on the BSE. The scrip opened at Rs212.30 and has touched a high and low of Rs229.40 and Rs212.20 respectively.

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