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Graphite India Q1 net profit at Rs.34 crore

Kolkata, July 29 (IANS) Graphite electrodes manufacturer Graphite India Ltd (GIL), posted a standalone net profit of Rs.34 crore in the first quarter (April-June) of the current fiscal (2010-11), the company said here Thursday.

Gross revenue for the quarter stood at Rs.271 crore, up by 11 percent, as against Rs.245 crore in the same period last fiscal.

‘Graphite India showed strong top line growth during Q1 FY 2011, both in terms of volume and value. The steel industry continued to recover during the quarter and we expect further strengthening in steel production going forward,’ said K.K. Bangur, chairman.

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