Golkonda Aluminium Extrusion reports 84% plunge in net profit for December 2021 quarter

Golkonda Aluminium Extrusions, which was formerly known as Alumeco India Extrusion Ltd has reported its standalone financial results for December 2021 quarter with an 83.87% downfall in net profit to INR 0.10 crore as against INR 0.62 crore during the existing quarter ended December 2020.

The company has reported a total income of INR 0.218 crores during the period ended December 31, 2021, as compared to INR 0.412 crores during the period ended September 30, 2021.

The company has posted a loss of INR 0.103 crores for the period ended December 31, 2021, against a net loss of INR 0.244 crores for the period ended September 30, 2021.

On 22nd August 1988, Golkonda Aluminium Extrusions was originally incorporated under the name of Progressive Aluminium Limited, with an annual capacity to produce 3125 mt of extrusions During the year 1993 the company was taken over by Pennar Group of Hyderabad and its name changed to Pennar Profiles Limited, while under the new management, a second extrusion press of 2875 mt capacity per annum was commissioned in 1995.

The German company namely O&S Metallimport GmbH (OSM) of Alumeco Group, Denmark along with Investment Fund for Developing Countries, Denmark took over the company and the Management in 2005. Then with its support, the company started and went into export of extrusions in a big way and achieved two star export house statuses. The name of the company was changed to Alumeco India Extrusion Limited (AIEL) and thereafter, in 2015, the name of the company was further changed to Golkonda Aluminium Extrusions Ltd.