GOCL Corporation rose 1.73% to Rs 282 after the company said it has completed the sale of the balance 12.25 acres of land property situated at Kukatpally, Hyderabad, for Rs 125.11 crore.

"We would like to update that sale of the balance 12.25 acres of land (after sale of 32 acres out of 44.25 acres of land), has been concluded for a sale consideration of Rs.125.11 crores and the Company has received consideration for the same," the company said in a statement on Tuesday, 27 September 2022.

In May this year, the company sold 32 acres out of 44.25 acres of land at Kukatpally, Hyderabad for Rs 326.80 crore.

GOCL Corporation is a leading manufacturer of energetics & commercial explosives products in India with 8 manufacturing locations, 11 regional offices and supply to more than 20 countries.

On a consolidated basis, net profit of GOCL Corporation surged 429.42% to Rs 125.05 crore on 66.92% rise in net sales to Rs 236.66 crore in Q1 June 2022 over Q1 June 2021.

Courtesy:BS