Gujarat Toolroom Limited announces Q3FY24 results

Gujarat Toolroom Limited (GTL), a prominent player in the industrial and mining sectors, has announced a strong sales figure of Rs 131 crores. 

Moreover, the company witnessed a surge in operating profit, reaching Rs 16 crores and a considerable increase in net profit, soaring to Rs 14 crores. 

Also, GTL has reported improvement in tax efficiency, with the tax percentage decreasing from 25 per cent to 8 per cent compared to the previous quarter. 

The company's earnings per share (EPS) saw a significant rise to Rs 2.58.

Gujarat Toolroom Limited (GTL), which recently forayed into the mining sector, recently announced a substantial enhancement in revenue outlook as it executes an order worth Rs 55 crore.

The announcement comes days after GTL acquired 6 hectares of mines in Zambia.

"The company has successfully concluded the acquisition of 6 hectares of mines in Zambia, marking a significant stride in our pursuit of sustainable growth," the company stated in an exchange filing.  

According to the company, each hectare of these mines would yield an estimated annual revenue ranging from $15-20 million.