Companies

Q1 results: GOCL Corporation posts lower net profit at Rs 6 crore

Our Bureau Hyderabad | Updated on August 09, 2019 Published on August 09, 2019

The energetics division logged in a turnover of Rs 21.66 crore

GOCL Corporation Limited has posted a net profit of Rs 5.86 crore in the first quarter ended June 30, 2019. This is lower than the net profit of Rs 7.94 crore posted for the corresponding quarter of previous year on a consolidated basis.

The Hinduja Group company logged in lower revenues of Rs 144.66 crore in Q1 as against Rs 149.52 crore during same period of last year.

The energetics division logged in a turnover of Rs 21.66 crore as against Rs 26.91 crore and its wholly owned subsidiary IDL Explosives Limited logged sales of Rs 116 crore as against Rs 111 crore.

The company along with IDL has orders worth Rs 500 crore from domestic and export customers. To cater to the rising demand, licenses have been received in for enhancement of capacities at four locations.

Mentioning about the real estate division, GOCL stated that it is in discussions with a US based IT MNC which is planning to set up two million sq.ft of office space in Hyderabad for IT office, Data Centre and Lab. This is likely to cover 14 acres of the 100-acre site.

GOCL holds shares in Quacker Houghton through HGHL Holding Limited. The current attributable market value is about Rs 554 crore ( $ 80.3 million), according to the company.

Published on August 09, 2019
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