Gujarat Toolroom's Q4 Net Profit Soars Above Rs 50 Crores

GTL reported Q4 net profit at Rs 50.29 crore, boosted by higher income. Net profit was Rs 73 lakh in Q4 2023. Total income rose to Rs 377.35 crore from Rs 1.64 crore in the year-ago period. The company plans to invest Rs 572 crore in a green energy project in Gujarat, expanding beyond its industrial machine manufacturing operations.

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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