HOCL closure move irks NCOA

Published: 27th July 2016 05:53 AM  |   Last Updated: 27th July 2016 05:53 AM   |  A+A-

KOCHI: THE National Confederation of Officers’ Associations (NCOA) has expressed serious concern over the decision of the Centre to close down Kochi unit of HOCL. NCOA termed this decision as arbitrary, hasty and without properly studying the profitablity of the unit. Since its commissioning in 1987, Kochi unit of HOCL has been making profits till 2012. As on March 31, 2016, the net worth of Kochi unit of HOCL is Rs 541 crore. Accumulated profits of Kochi unit of HOCL is Rs 542.79 crore  and reserve and surplus of the undertaking is Rs 508 at the end of 2016 fiscal.


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