Rain Carbon Inc. (wholly owned subsidiary of Rain Industries) announced that the company will resume shipments of petroleum coke to its Vizag calcining facility in Visakhapatnam, India. This follows on 09 October 2018 ruling by the Supreme Court of India that exempts calciners from the nation's recent ban on the importation of petroleum coke for use as fuel, which was enacted as part of the country's effort to reduce industrial emissions.

Rain Carbon uses green petroleum coke (GPC) as its primary feedstock in the production of calcined petroleum coke (CPC), which is an essential raw material in the anodes required during the electrolytic process of aluminium production. The company also imports CPC for blending at its Vizag facility.

Under the Supreme Court's ruling, India's calcining industry will be permitted to import up to 1.4 million metric tons of GPC annually; the ruling also permits India's aluminium industry to use up to 500,000 tons of imported CPC per year.

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Net profit of Rain Industries rose 95.16% to Rs 303.77 crore in the quarter ended June 2018 as against Rs 155.65 crore during the previous quarter ended June 2017. Sales rose 44.22% to Rs 3803.25 crore in the quarter ended June 2018 as against Rs 2637.12 crore during the previous quarter ended June 2017.

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Net profit of Rain Industries rose 12695.45% to Rs 28.15 crore in the quarter ended June 2018 as against Rs 0.22 crore during the previous quarter ended June 2017. Sales rose 151.09% to Rs 17.30 crore in the quarter ended June 2018 as against Rs 6.89 crore during the previous quarter ended June 2017.

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Rain Industries will hold a meeting of the Board of Directors of the Company on 14 August 2018 Quarterly Results

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