Indo Gulf Corporation Q1 net at Rs 682m

Mumbai: Indo Gulf Corporation Ltd has posted a net profit of Rs 682.30 million for the quarter ended 30 June 2002 as compared to Rs 504.70 million for quarter ended 30 June 2001. The total income has increased from Rs 5,907.20 million in JQ-01 to Rs 7,276.10 million in JQ-02.

The company raised its copper smelter capacity to 1.5 lakh from the earlier 1-lakh tonne. The overall copper sales were up by almost 32 per cent to around Rs 2,240 crore, constituting 83 per cent of the aggregate sales.

Indo Gulf Corporation has said it is committed to enhance shareholders' value and is continuously evaluating various options in this regard. The company is exploring to expand capacity of its copper plant at Dahej to take advantage of its present infrastructure facilities and exploit economies of scale.

The capacity being explored for expansion will be finalised with the help of technical consultants and designers so as to optimise the above-mentioned objectives. Presently, the additional capacity under consideration are options ranging from 70,000 tpa to 1,00,000 tpa.