GOCL announces result for Q2 FY24

HIGHLIGHTS:

Ø  The company announces Q2 Unaudited Financial Results

Ø  Company’s income stood at INR 223 Crores

Ø  The net profit stood at INR 16 Crores

Hyderabad, November 7, 2023: GOCL Corporation Limited, a Hinduja Group Company, announced its Q2 financial results for the fiscal year 2023-24. Amidst ongoing market challenges, the company has consistently upheld its performance. In the second quarter, the company demonstrated its resilience and strategic effectiveness by achieving a consolidated Income for the quarter stood at INR 223 crores, and for the first half of the year at INR 482 Crores, with a PAT of INR 16 crores and for the half year ended at INR 28 Crores.

In the face of extraordinary market shifts, heightened raw material expenses, and inflationary influences impacting this quarter's financials, GOCL remains steadfast in its pursuit of growth. The company's commitment to innovation in product strategy and unwavering customer-centric values are key drivers for long-term success.

Commenting on the quarter's outcome, Pankaj Kumar, MD & CEO of GOCL Corporation Limited, remarked, "Amidst persistent economic headwinds this quarter, we've not only sustained our performance momentum but also embraced the opportunities within. The recent implementation of strategic initiatives is poised to yield positive results in the long run. Our unwavering participation in national missions, such as our involvement in Chandrayaan, serves as a powerful testament to the quality of our products and technologies. We remain steadfastly committed to achieving such milestones, and with our customer-centric approach, innovative solutions, and unwavering dedication, we are poised for enduring success.”