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Hot Pursuit News

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(12 Jun 2024, 12:17)

Gujarat Fluorochem gains after arm incorporates GFCL EV (FZC) in Oman

Gujarat Fluorochemicals (GFCL) advanced 2.07% to Rs 3,254.30 after the company's wholly-owned subsidiary, GFCL EV Products has incorporated GFCL EV (FZC) SPC in Sultanate of Oman.

The company’s wholly owned subsidiary, GFCL EV Products incorporated GFCL EV (FZC) with initial subscription upto OMR 2,50,000. The subsidiary company acquired 100% shareholding in GFCL EV (FZC).

The firm incorporated to set up a new project to manufacture high purity metal sulphate and complex metal phosphate.

The company’s consolidated net profit tumbled 69.58% to Rs 100.97 crore in Q4 FY24 as against Rs 331.88 crore recorded in Q4 FY23. Revenue from operations fell 23% year on year (YoY) to Rs 1,133.03 crore in quarter ended 31 March 2023.

Gujarat Fluorochemicals (GFL) is the flagship company of Inox Group. The company has evolved to being largest producer of chloromethanes, refrigerants and polytetrafluroethylene in India.

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