Gujarat NRE H1 net rises 44%

BS 200 SCORECARD

Gujarat NRE Coke Ltd (GNCL) has registered a 44 per cent increase in profit after tax (PAT) at Rs 43.44 crore for the half year ended on March 31, 2005. Profit before interest and tax (PBIT) increased 48 per cent to Rs 61.30 crore. Income from operations rose 48 per cent at Rs 155. 69 crore.

Arun Kumar Jagatramka, vice chairman and managing director, GNCL, said: "Gujarat NRE has recorded yet another quarter of satisfactory performance. During the quarter, the company bagged an export order of Rs 136 crore, thereby ensuring advance sale of additional production that is available consequent to increase in capacity during the financial year 2005-2006."

For the quarter ended March 31, 2005, the company registered PBIT of Rs 20.10 crore, while the profit after tax was Rs 13.37 crore.

"While domestic demand for coke remains strong, the company has also been receiving continuous export enquiries which it is unable to meet for want of adequate inventory level, which is necessary to service exports through single large shipment of 300000 to 400000 MT at one time," Jagatramka added.