Goa Carbon back in black; shares soar 15%

Manufacturer of Calcined Petroleum Coke Goa Carbon on Wednesday, reported a net profit of Rs 4.62 crore in second quarter ended September 30, 2016 as against a net loss of Rs 2.96 crore in the similar period of the previous year. 

Total income from operations was Rs 79.03 crore, a sequential rise of 0.33% from Rs 78.77 crore in Q2FY16 and a 24.02% growth on quarter-on-quarter basis.

Operating profit (EBITDA) stood at Rs 5.59 crore, clocking over five-fold jump year-on-year and up by 19.18% qoq. It operating profit margin (OPM) was at 7.07%, expanding by 561 basis points yoy but contracting by 29 basis points qoq.

Shares of Goa Carbon rose nearly 15% on BSE and were trading at Rs 134.75 per share.