Goa Carbon Share Soars: Q3FY24 Profits Skyrocket with Rs.10 Dividend Per Share

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Goa Carbon Share: Riding the Wave of Success in Q3FY24


Explore the Q3FY24 results of Goa Carbon Limited, including the increase in profits, the declaration of a Rs.10 per share dividend, and the substantial promoter holding


Introduction: A Glimpse into Goa Carbon's Stellar Performance

Goa Carbon Limited, a leading manufacturer of calcined petroleum coke, has recently announced its financial results for the third quarter of the fiscal year 2024 (Q3FY24). The company has shown a remarkable performance, with a significant increase in profits and a generous dividend declaration. This blog post will delve deeper into the details of these financial results and what they mean for the company and its shareholders.

About the Company: Goa Carbon

Goa Carbon Limited is a part of the esteemed Dempo Group of Companies. The company operates three calcination plants with a total capacity of 3,08,000 TPA. It generates 100% of its revenues from a single product: Calcined Petroleum Coke. This product is primarily used in the Aluminum smelting, graphite electrode, and Titanium Dioxide manufacturing.


Goa Carbon Stock Performance for the Year 2023

The company's stock performance has been commendable in the year 2023. The share price witnessed a significant surge, reaching a 52-week high. The company's strong operational performance in Q3FY24 played a crucial role in this upward trend. The stock of Goa Carbon zoomed by as much as Rs 104.5, or 17.2 per cent, to Rs 710 apiece on BSE.

Goa Carbon Profit Increased in Q3FY24

In Q3FY24, Goa Carbon reported a substantial 35.2% year-on-year increase in net profit, amounting to INR 34.6 crore. However, the company's revenue saw a drop, with the quarterly revenue standing at INR 272.4 crore, compared to INR 4,203.61 million a year ago. Despite the decrease in revenue, the company's profitability improved due to a decrease in expenses.

Dividend Declared: Rs.10 Per Share

Adding to the positive news, the Board of Directors of Goa Carbon declared an interim dividend of Rs.10 per share. The dividend will be paid on or before February 7, 2024. This announcement further bolstered the company's standing in the market.

Promoters Holding 59.72%

The promoters hold a significant 59.72% stake in the company. This substantial holding by the promoters indicates their confidence in the company's potential and future growth.

Conclusion:

The impressive Q3FY24 results and the declaration of a generous dividend make Goa Carbon a company to watch out for in the coming months. The company's strong operational performance and the promoters' substantial stake further strengthen its position in the market.

Disclaimer

This blog post is for informational purposes only and is not intended as investment advice. Investors are advised to conduct their own research or consult a financial advisor before making any investment decisions.


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