Margins down on higher coal costs: Guj NRE Coke

Gujarat NRE Coke has come out with fourth quarter numbers. It has reported Q4 net profit of Rs 64 crore as against Rs 50.9 crore and net sales of Rs 381 crore versus Rs 179 crore YoY.

Arun Kumar Jagatramka, Gujarat NRE Coke said that their margins are down due to higher coal costs. Their sales this quarter includes freight expenses which has hit margins, he added. He expects margins to be stronger, going forward. The company has a high level of coal and coke at lower costs. Jagatramka said that the company’s annual average realisations are up 30%, which he expects to be 50% higher for the next year.

More to come…