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Gujarat NRE Coke Q3 Profit Rises Over Eleven-fold

Met Coke producer in India Gujarat NRE Coke Ltd.'s net profit rose more than eleven-fold for the third-quarter, on increased income.

The Kolkata-based company's third-quarter net profit rose more than eleven-fold to Rs.20.12 crore or Re.0.34 per share from the Rs.1.90 crore or Re.0.03 per share in the third-quarter of 2012.

Its quarterly net income was Rs.527.11 crore, up by 57 percent from the Rs.335.37 crore in the year-ago quarter, while other income totaled Rs.1.08 crore, compared with Rs.3.62 crore for the same period last year.

For the quarter, income from 'Coal & Coke' segment increased over two-fold to Rs.496.25 crore from the Rs.245.27 crore in the year-ago quarter, while that of 'Steel' fell by 66 percent to Rs.30.89 crore from the Rs.90.69 crore in the corresponding quarter last year.

For the nine-months period, its net profit fell by 47 percent to Rs.25.82 crore from the Rs.48.60 crore in the corresponding period last year. Total income, including other income, totaled Rs.1,418.20 crore, compared with Rs.1,065.62 crore for the comparable period a year-ago, reflecting a 33 percent growth.

At the BSE, Gujarat NRE Coke closed Wednesday's trading at Rs.21.70, up 0.70 percent from the previous close.

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by RTT Staff Writer

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