New Delhi, May 26 Engineering structure and forgings company Goodluck India reported a near 200 per cent rise in net profit at Rs 24 crore in the quarter ended March 31, 2022, as against Rs 8 crore in the year-ago period. Turnover increased nearly 45 per cent y-o-y to Rs 702 crore.
On a full-year basis, net profit in FY 2022 stood at Rs 75 crore, up 150 per cent on Rs 30 crore reported in FY 2021.
A substantial jump in exports at Rs 1,060 crore during FY 2022 helped the company post a “record turnover” of Rs 2,617 crore, up over 123 per cent on the Rs 475 crore posted in the previous fiscal.
According to the Chairman, Mahesh Chandra Garg, the focus on exports has helped the company register its highest turnover and profits ever.
“During the year, our sales volume stood at 264,418 tonnes. We are looking at newer geographies for expansion. Simultaneously, we will continue to focus on offering value-added products and high-end engineering products,” he said.
The company was bullish on the high-speed rail and solar energy segments. Defence will be another focus area.