GOCL Q3 net profit declines 16 pc to Rs 5 cr

GOCL, a Hinduja Group company, today reported a 16 per cent decline in its consolidated net profit at Rs 5.04 crore for the quarter ended December, 2016.
The company had clocked a net profit of Rs 6 crore in the corresponding quarter of the last fiscal.
It said its consolidated turnover for the third quarter increased by 6.5 per cent to Rs 134 crore as against Rs 126 crore in the corresponding quarter of the previous fiscal.
Its overall sales of the energetics and explosives division during the quarter rose to Rs 26 crore.
"IDL Explosives Limited (IDLEL), a wholly owned subsidiary of the company, has achieved a turnover of Rs 311 crore" for the third quarter, it said.

The mining and infrastructure division achieved service income of Rs 6 crore as against Rs 17 crore in last year due to adverse market conditions and regulatory environment in the metal mining sector, it said.