Graphite India Ltd reported a fall in net profit at Rs 44.54 crore in the fourth quarter to March 31, from Rs 55.60 crore in the corresponding quarter in the previous year.
Standalone net profit for the full year also dropped to Rs 172.32 crore (Rs 232.16 crore). Consolidated net profit for 2010-11 stood at Rs 189 crore (Rs 235 crore). Graphite has three wholly-owned subsidiaries – Graphite International BV, Carbon International Holdings NV and Carbon Finance Ltd. Graphite electrode major has proposed a dividend of Rs 3.5 a share of Rs 2 each.
According to Mr K.K. Bangur, Chairman of the company, significant growth in volumes was seen across geographic regions as a result of steady growth in the steel industry. “However, the electrode pricing environment was relatively moderate during the year. Despite this, our focus on operational efficiency and productivity resulted in Graphite India generating high operating profit margins of approximately 24 per cent in FY2011,” he added.