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GOCL Corporation Limited
Media H1 Consolidated Net Profit increases 5.6%.

H1 Consolidated Net Profit increases 5.6%.

13-Nov-2018

Highlights
  • H1 Consolidated Net Profit increases 5.6%.

Mumbai, November 13, 2018: GOCL Corporation Limited, a Hinduja Group Company, has reported for H1 a Consolidated Income of Rs. 266 crores. The Net Profit for H1 increased to Rs. 13.93 crores an increase of 5.6%.

On a standalone basis, total income for H1 increased by about 5.7% from Rs. 55.21 crores to Rs. 58.35 crores. The Standalone profit for the H1 was maintained at 6.96 crores. However, Q2 Net Profit was Rs. 3.75 crores, an increase of 18.9% over previous year although total income was lower by 9.5% at Rs. 25.78 crores.

Division wise performance and highlights are as under:

ENERGETICS AND EXPLOSIVES


In Q2, the Company recorded revenue of Rs. 25.77 crores as against Rs. 28.49 crores. However, the PBT was Rs. 5.38 crores as against Rs. 5.20 crores in the previous year. The increase in PBT was mainly due to the Energetics Division recording a 14% growth which was on account of better product mix.

The wholly owned subsidiary, IDL Explosives Limited ( IDLEL ), reported Sales of Rs. 86 crores as compared to Rs. 84 crores in the same quarter of the previous year, registering a QoQ increase of 2% across all bulk explosives and packaged explosives business of the Subsidiary. However, the Profit Before Tax for the quarter was Rs. 3.02 crores as against Rs. 3.11 crores in the same quarter of the previous year due to adverse fluctuation in the foreign exchange.

Currently, the Company along with IDLEL has Rs. 680 crores worth of orders on hand from domestic and export customers, including a major order received in the previous quarter from Singareni Collieries Company Limited, a Telangana State PSU.

Process upgradations and cost rationalization have been undertaken at all plants of the Company to meet the emerging demand.

REALTY DIVISION


Ecopolis at Bengaluru

'Ecopolis' is Company's foray into real estate industry. The project is a joint development with Hinduja Realty Ventures Limited (HRVL). The mixed-use commercial development is located in the growth corridor of North Bangalore. The over 38.15 acres techpark comprises of SEZ and commercial office space, which will be constructed in phases.

In the first phase in the SEZ portion of the land, two LEED Gold rated buildings have been readied and a full floor in one of the building ( 73,465 sft ) has been leased. The client has commenced operations after fit-out.

HRVL is closely working with International Property consultants and local brokers to complete discussions with several clients on the remaining floors in the Building 3 and 2 including built-to-suit requirements for the land available for future development. Due to growing requirement of quality IT office space and improving social infrastructure, clients have seriously started exploring North Bangalore for office space. Given the ample land available for future development, any client's immediate and future office requirements can be offered within the campus.

Kukatpally, Hyderabad

For the Company's 100-acre integrated mixed use township located in Kukatpally, which is easily accessible to all the hotspots of the city, for development of IT / ITeS, office, retail, educational Institutions, hospitality, healthcare and residential segments is in progress. Approval from AAI ( Airport Authority of India ) for Phase 1 has been received. Some of the other regulatory inspections have been completed.

For further information please visit www.goclcorp.com or contact:

Mr. A.Satyanarayana, Company Secretary, GOCL Corporation Limited at 040 23811442

Mrs. R. Chaudhry, Asst. General Manager - MDs Office, GOCL Corporation Limited, Hyderabad at 040 23700750.

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