Mumbai, Aug 1 (SocialNews.XYZ) Kolkata-based Graphite India Limited on Friday reported a 43.6 per cent year-on-year (YoY) decline in its net profit to Rs 133 crore, compared to Rs 236 crore in the same period previous year (Q1 FY25).
Revenue also slipped 8.7 per cent to Rs 665 crore from Rs 728 crore a year ago, according to its stock exchange filing.
The company’s operating performance weakened further, with earnings before interest, taxes, depreciation and amortisation (EBITDA) plunging 61.2 per cent to Rs 43 crore from Rs 113 crore.
EBITDA margin contracted to 6.5 per cent, down from 15.5 per cent in the corresponding quarter previous year, the company stated in its regulatory filing.
On the production side, Graphite India currently operates with an annual capacity of 80,000 tonnes in India and a utilisation rate of 80 per cent – 85 per cent.
The company has announced a capacity expansion plan of 25,000 tonnes per annum, which will be carried out in two phases.
The first phase will add 13,000 tonnes within the next 12 months, while the second phase will add 12,000 tonnes over the following 36 months.
The total investment for the expansion is estimated at Rs 600 crore, including Rs 100 crore for setting up captive power generation from renewable energy sources.
Following the result announcement, shares of Graphite India Limited fell 8 per cent on Friday after the company reported a sharp drop in its earnings for the April–June quarter.
Graphite India Limited (GIL) makes graphite electrodes, carbon products, and other special graphite items.
The company was set up in 1967 and has now grown to operate six plants in India along with a subsidiary in Germany.
The company is involved in hydel power generation, contributing to the energy sector.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz