India-based Gujarat NRE Coke Ltd (GNCL) has announced its financial results for the first quarter ended on June 30 of the financial year 2012-13.
Gujarat NRE registered a net loss of INR 110.2 million ($2 million) for the first quarter, compared to a net profit of INR 386 million in the corresponding quarter of the previous financial year. Net sales of Gujarat in the given period increased by 20.6 percent year on year to INR 5.26 billion ($95 million).
Meanwhile, in the same quarter, Gujarat NRE Coking Coal (GNCCL), the Australian subsidiary of Gujarat NRE, reported the highest-ever quarterly production of coking coal from its Australian mines. GNCCL produced 362,000 mt of coal compared to 153,000 mt registered in the same quarter of the previous year due to successful commissioning of longwall equipment at the NRE No. 1 colliery, production from which alone was 216,000 mt in the June quarter.