Gujarat Toolroom's Q4 net profit surged to over Rs 50 crore, driven by increased revenue. The company also announced plans to enter the green energy sector with a Rs 572 crore investment.
New Delhi, May 7 (PTI) Gujarat Toolroom Ltd (GTL) on Tuesday reported a multi-fold jump in consolidated net profit to Rs 50.29 crore for the March 2024 quarter, mainly due to higher income.
Its net profit was Rs 73 lakh in the quarter ended March 2023, the company said in a regulatory filing.
Total income surged to Rs 377.35 crore from Rs 1.64 crore in the year-ago period.
Total expenses also rose to Rs 326.72 crore as against Rs 61 lakh a year ago.
Ahmedabad-based Gujarat Toolroom is into manufacturing and assembling industrial machines and equipment.
Last week, the company announced plans to foray into the green energy sector by acquiring 65 acres of land in Gujarat to set up a green energy project at an investment of Rs 572 crore.
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