Gulf Oil Posts 12% Spurt In Q1 Net

Posted: Thursday, Jul 22, 2004 at 2225 hrs IST
Updated: Thursday, Jul 22, 2004 at 2225 hrs IST

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Mumbai, July 21: Gulf Oil Corporation has reported a 12.3 per cent increase in the net profit for the first quarter ended June, 2004 at Rs 6.34 crore as compared to Rs 5.65 crore for the same period last year.

Total income for the reporting quarter has also reported a 30.2 per cent increase at Rs 105.9 crore as against Rs 81.33 crore for the corresponding previous quarter. Operating profit for the reporting quarter rose 5.04 crore to Rs 6.98 crore as compared to Rs 6.65 crore in the same period last year.

The company said that its lubricants division turned out a strong performance with a trunover of Rs 55.56 crore as compared to Rs 32.29 crore the previous corresponding quarter, representing a 72.1 per cent growth.

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