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Electrode maker Graphite India Ltd reported a lower net profit at Rs 42 crore in Q4 of FY2013 against Rs 103 crore in Q4 FY2012. The company said the Q4 FY2012 net profit figure, however, had included Rs 29.6 crore profit-on-sale of the entire shareholding in Carbon International Holdings NV, then a wholly-owned subsidiary. Graphite’s interest expense increased from Rs 5.8 crore in Q4 FY2012 to Rs 7.1 crore in Q4 FY2013.
For FY2013, Graphite recorded a net profit of Rs 163.08 crore (Rs 237.89 crore). It proposed a dividend of Rs 3.5 for a share of Rs 2. “Graphite India delivered a 12 per cent y-o-y topline growth during the quarter driven by increased sales volume and price realisation… Near term global steel demand is expected to be subdued, placing further pressure on graphite electrode demand,” K.K. Bangur, Chairman, said in a statement. The company’s stock closed at Rs 77.90 on the BSE, down 0.89 per cent.
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