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Graphite India net at Rs 4.40 cr in Q1

KOLKATA: As part of a `de-bottlenecking exercise' aimed at tackling recession, Graphite India Ltd shall focus almost all its resources on manufacturing UHP (ultra high power) electrodes.

The initiative shall take the company's UHP electrodes manufacturing capacity to 7,000 tonnes per annum at a very low capital-cost-per-tonne, Graphite India's Chairman, Mr K.K. Bangur, told shareholders at the company's annual general meeting held here.

During the year 2000-2001, the company recorded a turnover of Rs 260.86 crore compared with Rs 237.92 crore recorded in the previous year. A profit after tax of Rs 19.15 crore was notched in 2000-2001 (Rs 12.25 crore). A dividend of Rs 2.50 was declared for the year gone by.

For the first quarter ended June 30, 2001, income from operations went up to Rs 64.05 crore (Rs 49.37 crore). The gross profit stood at Rs 7.56 crore (Rs 4.31 crore). The net profit was Rs 4.40 crore (Rs 1.74 crore). -- Our Bureau