Goa Carbon Ltd. is wary of a further spike in green coke prices.
The prices of the raw material have risen $10-12 per tonne on a quarter-on-quarter basis, hurting the petrochemical company's financials, its Managing Director and Chief Executive Officer Shrinivas Dempo told BloombergQuint in a post-earnings interaction.
Green coke prices came under pressure following the launch of another calcined petroleum coke plant in China – the main source of the raw material for Goa Carbon – amid the ongoing trade conflict with the U.S, he said. This increased domestic demand for the raw material in China pushed up prices of exports.
Key Earnings Highlights:
- Revenues up 60 percent to Rs 125 crore year-on-year.
- Net profit up 17 percent to Rs 7 crore.
- Earnings before interest, tax, depreciation and amortisation up 53 percent to Rs 14.5 crore.
- Margins at 11.6 percent versus 12.2 percent in the same quarter last year.
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