Lubes maker Gulf Oil Lubricants India Ltd on Thursday (February 6) reported a 21.7% surge in net profit at ₹98.2 crore for the third quarter that ended December 31, compared to ₹80.7 crore a year ago.
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Revenue from operations increased 10.7% to ₹904.9 crore against ₹817.3 crore year-on-year (YoY). This is the company’s highest quarterly revenue.
At the operating level, EBITDA was up 10.1% to ₹122.3 crore in the third quarter over ₹111.1 crore in the corresponding period in the previous fiscal.
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The EBITDA margin narrowed slightly to 13.5% from 13.6% in Q3 FY24. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Gulf Oil Lubricants has declared an interim dividend of ₹20 per equity share of face value ₹2 each (1000%) for FY25. The record date for determining shareholder entitlement to the interim dividend is February 14.
Ravi Chawla, Managing Director and CEO of Gulf Oil Lubricants India, said, “Despite macroeconomic headwinds, we at Gulf Oil focused on creating an agile environment and capitalising on the opportunities to navigate the evolving landscape.”
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“This led us to achieve our highest-ever quarterly volume and strong double-digit topline growth of 11% year-on-year, crossing ₹900 crores in a quarter for the first time,” he said.
The results came after the close of the market hours. Shares of Gulf Oil Lubricants India Ltd ended at ₹1,073, up by ₹4.50, or 0.42%, on the BSE.
First Published: Feb 6, 2025 8:55 PM IS
