Date:01/04/2005 URL: http://www.thehindubusinessline.com/2005/04/01/stories/2005040101960200.htm

Back Goa Carbon to merge with Paradeep Carbons

Our Bureau

MUMBAI: The board of directors of Goa Carbon Ltd has decided to merge Paradeep Carbons Ltd, a 100 per cent subsidiary with the company.

Goa Carbons Ltd, a part of the Dempo group, has returned to the black after a spell of losses in the previous three quarters.

A steep increase in f.o.b. price and ocean freight of raw petroleum coke, the main raw material, pushed the company into the red.

For the third quarter ended December 2004, Goa Carbons reported a net profit of Rs 1.62 crore against a net loss of Rs 14.67 lakh. Paradeep Carbons reported a profit of Rs 47.44 lakh for the December 2004 quarter on sales of Rs 26.15 crore. However, the loss for the nine-month period was Rs 3.56 crore on total sales of Rs 56.64 crore.