Millennium Post

Gujarat NRE sees Q4 turnaround; annual net grows 10 times

Gujarat NRE Coke, a leading private coke producing firm, returned to profitability in the fourth quarter ended 31 March, 2013, with a net profit of Rs 5.15 crore.
The Kolkata-based company had reported a net loss of Rs 45.51 crore during the corresponding period a year ago. The company managed to reduce its costs significantly during the quarter even though its net sales declined marginally by 0.74 per cent at Rs 327.98 crore, it said in a filing to the Bombay Stock Exchange (BSE).
Its total expenses constituted 71.60 per cent of its net sales at Rs 255.44 crore during the quarter. For the full year ended 31 March, 2013, its net profit rose by over 10 times to Rs 30.97 crore vis-a-vis a net profit of Rs 3.09 crore of FY12. Its net sales, at Rs 1,713.04 crore, were up nearly 25 per cent in the last fiscal.
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