By IANS,
Kolkata : Gujarat NRE Coke Ltd, the largest independent coke producer in India, Thursday reported a whopping 107.96 percent jump in its net profit for the quarter ended Sep 30 to Rs.16.72 crore from Rs.8.04 crore during the same period a year ago.
According to a company release here, the total income for the quarter registered a rise of around 23 percent at Rs.331.83 crore as against Rs.270.04 crore in the corresponding quarter last year.
Gujarat NRE Coking Coal Ltd (GNCCL), the Australian subsidiary of Gujarat NRE Coke, registered the highest quarterly production in a quarter in the second quarter this fiscal which stood at 544,000 tonnes, while sales increased by 34 percent during the period to 486,000 tonnes from 363,000 tonnes in the corresponding period last fiscal.
Speaking on the occasion, Arun Kumar Jagatramka, chairman and managing director, Gujarat NRE Coke, said: “Our fundamentals are strong and strategies are prudent. We just await the overall economic and market conditions to improve.”