GOCL displays strong growth with revenue up by 126% to Rs 1410 cr in FY’ 23; an all-time high
GOCL Corporation Limited, a Hinduja Group Company, has today reported an impressive performance and recorded an increase in consolidated revenue of 126%, from Rs 623 crores last year to Rs 1410 crores in FY 23. The company reported a 20 % growth in profit to Rs 211 crores as against Rs 176 crores the last year.
City Air News
May 30, 2023 06:07
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Hyderabad, May 30, 2023: GOCL Corporation Limited, a Hinduja Group Company, has today reported an impressive performance and recorded an increase in consolidated revenue of 126%, from Rs 623 crores last year to Rs 1410 crores in FY 23. The company reported a 20 % growth in profit to Rs 211 crores as against Rs 176 crores the last year.
The Consolidated revenue for Q4 FY 23 increased by 85% to Rs 302 crores, as compared to Rs 163 crores during Q4 of the previous year.
The Board has recommended a dividend of Rs 5 per share (250%) for the financial year 2022-23. In addition, considering the monetisation of land a special dividend of Rs 5 per share (250%) is being declared. The total cash outgo on this account will be 50 cr.
Commenting on the performance, Pankaj Kumar, MD & CEO of GOCL Corporation Limited, said - “The year's performance is a testament to our unwavering commitment to delivering enhanced solutions for our customers and consolidating our position as technology leader. Despite challenging market conditions, including rising raw material prices and inflationary pressures, we have expanded our portfolio and have maintained the growth momentum. We remain steadfast in our pursuit of excellence and are determined to seize new opportunities.
