GOCL Corporation posts Rs. 5.04 cr net profit

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GOCL Corporation Ltd, (Gulf Oil Corporation Ltd), Hinduja Group Company engaged in the provision of explosive accessories for mining and industrial use, has posted a net profit of Rs. 5.04 crore for the Q3 ended December 31, 2016 against a net profit of Rs. 6 crore during the corresponding quarter last year.

The Company’s segments comprise Energetics, Mining and Infrastructure deals, Realty, Lubricating Oils and Others.

GOCL registered a total income of Rs. 133.80 crore during the third quarter against Rs 125.66 crore in the corresponding period of last year. The company has posted a net profit of Rs 21.00 crore for the nine months ended December 2016. The energetics and explosives division has posted a turnover of Rs. 26 crore, up 26% during the quarter.

The Company’s mining and infrastructure division has posted a lower income of Rs. 6.00 crore against Rs. 17 crore in the same period last year owing to adverse market conditions and regulatory situation in the mining sector.

In the realty business, GOCL has secured occupancy certificate for ECOPLIS Block-3 of 10.46 lakh sqft and a multi level parking of 4.06 lakh sqft. Construction of Block-2 consisting 10.06 lakh sqft is in pipeline. The company is in the process of securing sanctions for Block-1 of 6.34 lakh sq.ft. GOCL shares were trading up by 2.37% at Rs. 332 on Bombay Stock Exchange.

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