GOCL Corporation profit jumps two-folds in January-March
GOCL Corporation profit jumps two-folds in January-March

Hinduja group firm GOCL Corporation Limited on Tuesday said its consolidated net profit grew nearly 100 per cent to Rs 27.48 crore in the March quarter of the previous fiscal.

The company had posted a consolidated net profit of Rs 13.81 crore in Q4 FY20, according to a release.

Consolidated income during the quarter under review stood at Rs 150 crore against a consolidated income of Rs 151 crore in the quarter year-ago.

For 2020-21 fiscal, consolidated net profit jumped 59 per cent to Rs 78.70 crore as compared to Rs 49.60 crore in the previous year, on a consolidated income of Rs 557 crore as against Rs 558 crore in the fiscal year ended March 31, 2020, it said.

The effects of the pandemic are easing with several government interventions and stimuli which will lead to robust requirements for IT office spaces, infrastructure and mining, the company said, adding that it has an order book of Rs 540 crore, going forward, along with modernisation of facilities at the major plants.

The new businesses in special products, electronics are gaining momentum, and the company, therefore, is optimistic as it goes into the new fiscal year.

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