Comments
GOCL Corporation Ltd posted a profit of ₹11.90 crore for the fourth quarter ended March 31, 2017 as against a profit of ₹4.85 crore for the corresponding quarter last year on a consolidated basis.
The Hinduja Group company, formerly called Gulf Oil Corporation Ltd, clocked income of ₹167.07 crore (₹162.70 crore).
For the financial year ended March 31, 2017, the company posted a profit of ₹32.91 crore and income of ₹632.31 crore as against a profit of ₹26.93 crore and income of ₹615.66 crore for the previous financial year.
The company Board has recommended a dividend of 80 per cent, which works out to ₹1.60 for every equity share of ₹2 each.
During the fourth quarter, the energetics and explosives division, which manufactures detonators and accessories, achieved a turnover of ₹469 crore (₹450 crore) due to improved sales volumes.
The mining business saw a steep drop in sales at ₹6.84 crore (₹20.17 crore) due to adverse market conditions.
Real estateThe company plans to develop commercial real estate in Bengaluru in a phased manner. GOCL has received offers from developers for out-right purchase of completed blocks along with future development on the SEZ portion and land. The Hyderabad real estate venture is in planning-cum-approval stage.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.