GOCL Corporation Limited, a Hinduja Group company, has reported a profit of Rs 7.95 crore for the first quarter ended June 30, 2018 , up 11 per cent, as against Rs 7.16 crore for the corresponding quarter of last year.

It logged consolidated income of Rs.150 crore, an increase of 3 per cent over the corresponding quarter previous year.

In Q1, the Energetics division recorded revenue of Rs 26.91 crore as against Rs.18.96 crore an increase of 41 per cent and profit of Rs. 3.38 crores was 40 per cent higher than previous year. The increased revenue and segment profit was on account of increased export and better product mix consisting of non-electric detonators, boosters, and detonating fuse.

The wholly-owned subsidiary, IDL Explosives Limited ( IDLEL ), reported sales of Rs 111 crore as compared to Rs 100 crore in the same quarter of the previous year, registering a QoQ increase of 11 per cent across all bulk explosives and packaged explosives manufactured by the subsidiary.

Currently, the company along with IDLEL has Rs 704 crore worth of orders on hand from domestic and export customers, including a major order received recently from Singareni Colleries Company Limited, a Telangana State PSU.

During the quarter, licenses have been received in IDLEL for enhancement of capacities at 3 locations by 22,500 tonnes of bulk explosives, which will be operationalised shortly.

Realty

‘Ecopolis’ is the company’s foray into real estate industry in association with Hinduja Realty Ventures Limited, the developer. It is a mixed-use commercial development located in the growth corridor of north Bangalore.

The company is awaiting approvals to begin work on Hyderabad realty project, located close to the IT hub.

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