Companies

GOCL Corp nets Rs 5 cr in Q2, investment in Quaker Houghton seen at Rs 566 cr

V Rishi Kumar Hyderabad | Updated on November 08, 2019 Published on November 08, 2019

GOCL Corporation Limited has posted a profit of Rs 5.06 crore for the second quarter ended September 30, 2019 as against a profit of Rs 5.98 crore for the corresponding quarter last year.

The Hinduja Group company registered income of Rs 119 crore for the second quarter as compared to Rs 116 crore for the corresponding quarter of last year.

While the energetics division ended with a turnover of Rs 25.74 crore ( Rs 20.05 crore), its wholly owned subsidiary IDL Explosives Limited reported sales of Rs 94.70 crore against Rs 86.05 crore for the same period previous year.

The sales to Coal India and Singareni Collieries were lower when compared to same period last year. IDL has an order book of Rs 426 crore.

The company has received licence to enhance capacity at four more locations.

Two phases of the company’s realty business in Bengaluru have been completed and efforts are on to secure clearance for the Hyderabad township project.

Following the combination of Houghton International Inc with Quaker Chemicals to form Quaker Houghton, the company is a beneficial holder of 427,395 shares of common stock and an adjusted cash consideration of $12.2 million.

Of this, an escrow amount of around $3.2 million has been made. The attributable investment value for the company as at September 2019 is Rs 566 crore, according to GOCL Corporation

Published on November 08, 2019
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