Gulf Oil Lubricants Q1 net profit jumps 82.31% at Rs 55.33 cr
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The company reported standalone net profit of Rs 55.33 crore for the quarter ended June 30, 2022 as compared to Rs 30.35 crore in the same period last year, registering a year-on-year growth of 82.31 per cent. Net revenue of the company rose substantially by 69.26 per cent at Rs 706.45 crore in April-June quarter of this fiscal as against Rs 417.37 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 65.61 per cent to Rs 621.42 crore from Rs 375.24 crore in year ago period. Other Income dipped by 14.35 per cent at Rs 9.25 crore versus (Jun'21 Rs 10.80 crore). Operating Profit surged by 101.83 per cent to Rs 85.03 crore as against Rs 42.13 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 19.33 per cent in June quarter. Interest grew by 160.55 per cent y-o-y to Rs 10.50 crore, while Taxation increased by 84.50 per cent at Rs 19.04 crore (Jun'21 Rs 10.32 crore).
