{"id":106478,"date":"2023-08-08T18:28:21","date_gmt":"2023-08-08T12:58:21","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106478"},"modified":"2023-08-08T18:28:23","modified_gmt":"2023-08-08T12:58:23","slug":"hocl-q1-result-net-loss-increased-to-rs-23-03-crore","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/hocl-q1-result-net-loss-increased-to-rs-23-03-crore\/","title":{"rendered":"HOCL Q1 Result: Net loss increased to Rs 23.03 crore.\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2688429768\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>A government-owned chemical corporation called Hindustan Organic Chemicals Ltd. (HOCL) specializes in the production and marketing of organic chemicals. It focuses on domestic chemical intermediate production to boost domestic businesses and lessen the nation&#8217;s reliance on imports.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3127019677\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>State-owned <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/HOCL\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Hindustan Organic Chemicals Ltd<\/a><\/strong> (HOCL) on Tuesday posted a consolidated net loss of Rs 23.03 crore for the first quarter of 2023-24 despite witnessing a 17 per cent rise in sales.<\/p><p>The company had posted a net loss of Rs 14.76 crore in the year-ago period, according to a regulatory filing.<\/p><p>Total income increased 17 per cent to Rs 145.45 crore during the quarter compared with Rs 124.40 crore in the year-ago period.<\/p><div class=\"trade-content_5\" id=\"trade-3444856942\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Expenses, too, increased to Rs 171.98 crore during the quarter from Rs 141.65 crore a year ago.<\/p><p>HOCL said it is in the process of implementing a government-approved restructuring plan.<\/p><p>Sale of unencumbered land in Rasayani through NBCC and Panvel land through e-auction are in progress, while the Phenol plant in Kochi is in operation, it said.<\/p><p>&#8220;In view of this, the financial statement has been prepared on a going concern basis,&#8221; it said.<\/p><p>The company also said it has undertaken the closure of its subsidiary firm Hindustan Fluorocarbons Ltd and management had made VRS payments to employees, settled bank loans and made payments towards various outstanding dues.<\/p><p>The plant and machinery were sold in March 2023 and the sales proceeds were deposited as fixed deposits in a bank.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-4107147009\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-3345263458\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>A government-owned chemical corporation called Hindustan Organic Chemicals Ltd. (HOCL) specializes in the production and marketing of organic chemicals. It focuses on domestic chemical intermediate production to boost domestic businesses and lessen the nation&#8217;s reliance on imports.&nbsp; State-owned Hindustan Organic Chemicals Ltd (HOCL) on Tuesday posted a consolidated net loss of Rs 23.03 crore for [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":101294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-106478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HOCL Q1 Result: Net loss increased to Rs 23.03 crore.\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"A government-owned chemical corporation called Hindustan Organic Chemicals Ltd. 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