Hyderabad | June 1, 2017: GOCL Corporation Ltd posted a profit of ₹11.90 crore for the fourth quarter ended March 31, 2017 as against a profit of ₹4.85 crore for the corresponding quarter last year on a consolidated basis.

The Hinduja Group company, formerly called Gulf Oil Corporation Ltd, clocked income of ₹167.07 crore (₹162.70 crore).

For the financial year ended March 31, 2017, the company posted a profit of ₹32.91 crore and income of ₹632.31 crore as against a profit of ₹26.93 crore and income of ₹615.66 crore for the previous financial year.

The company Board has recommended a dividend of 80 per cent, which works out to ₹1.60 for every equity share of ₹2 each.

During the fourth quarter, the energetics and explosives division, which manufactures detonators and accessories, achieved a turnover of ₹469 crore (₹450 crore) due to improved sales volumes.

The mining business saw a steep drop in sales at ₹6.84 crore (₹20.17 crore) due to adverse market conditions.

(Source: http://www.thehindubusinessline.com/)