Goa Carbon hits new high ahead of Q1 results; stock zooms 139% in one month

The stock hit a new high of Rs 380, up 4%, extending its 24% rally in past three trading sessions

Goa Carbon hits record high of Rs 380, up 4% on BSE, extending its 24% rally in past three trading sessions, ahead of board meeting today to announce April-June (Q1FY18) results.

“A meeting of the board of directors of the company is scheduled to be held on 13th July, 2017, to consider, approve and take on record the unaudited financial results of the Company for the three months period ending on 30th June, 2017 along with other matters,” Goa Carbon said in a BSE filing on June 19, 2017.

The stock has rallied 139% in past one month from Rs 159, as compared to 2% rise in the S&P BSE Sensex.

Goa Carbon had reported a standalone net profit of Rs 5.08 crore for the fourth quarter ended March 2017 (Q4FY17), due to exchange gain of Rs 6.71 crore. It had profit of Rs 41 lakh in the same quarter last fiscal.

Total income from operations of the company increased by 13% at Rs 76.37 crore against Rs 67.50 crore in the corresponding quarter of previous fiscal.

In the month of May, the company said it has resumed its operations of Bilaspur and Goa unit after the temporary shut-down for maintenance work. “There would not be any financial impact due to the temporary shutdown of the Company's units as there was sufficient inventory of finished material to service the orders in hand,” Goa Carbon said in a regulatory filing.