GOCL Corporation Ltd Consolidated Turnover for Q-3 Increased by 6.5% to Rs.134 Crores

By Tricitynews Reporter

Chandigarh 10^th February:- GOCL Corporation Ltd., a Hinduja Group Company, has reported a consolidated turnover for Q-3 increase of 6.5% to Rs. 134 crores ( Rs. 126 crores ) and an Operating Profit of Rs. 4.77 crores  ( Rs. 3.17 crores). The Profit after Tax is Rs. 5.05 crores.   The Standalone Turnover was Rs. 27 crores (Rs. 27 crores ) and Profit After Tax of Rs. 5.06 crores  ( Rs. 5.58 crores ).

Overall sales of the Division during the quarter have increased by 26% to Rs. 26 crores and the turnover for the nine months period was Rs. 64 crores, an increase of 30%. The increase in revenue during the third quarter was on account of improved domestic and export sales of detonators, cartridged products and detonating fuse, registering an all round growth.    

IDL Explosives Limited (IDLEL), a wholly owned subsidiary of the Company has  achieved a turnover of Rs. 311 crores up to the third quarter ended December, 2016 an increase of 7%, and PBT of Rs. 17 crores a substantial increase over the corresponding period of the previous year.

The Mining and Infrastructure Division achieved service income of Rs 6 crores as against   Rs. 17 crores in last year due to adverse market conditions and regulatory environment in the metal mining sector.

Occupation Certificate for ‘Ecopolis’ Block 3 (10.46 lakhs sq.ft. ) + Multi Level Car Park space (4.06 lakhs sqft. ) has been obtained.  Requirements for sale/lease/built-to-suit from clients through International Property Consultants and through internal business development initiatives are underway. Clients have completed site visits and we have responded to RFP’s and RFI’s received. However in view of the fact that the Residential developments and complementing Social Infrastructure nearer to ‘Ecopolis’ in North Bengaluru are under development, some more time will be required for finalizing the deals.

Construction of Block 2 comprising of 10.06 lakhs sq.ft. is underway. RCC works for 3 basements, ground floor and 10 upper floors has been completed. Contracts for purchase, installation and commissioning of Mechanical, Electrical, Public Health, Fire Fighting, Facade works & Elevators are currently being finalized and awarded.

Approvals for start of construction of Block 1 comprising of 6.34 lakhs sq.ft. are being obtained. Construction work will commence post approvals.