Gulf Oil Q1 results: Net profit rises 29% to Rs 88.02 cr, revenue up 9%

Lubes maker and Hinduja Group firm Gulf Oil Lubricants India's net profit rose 29 per cent to Rs 88.02 crore in three months to June over the same period last year, the company said on Tuesday.

Gulf Oil Lubricants India had posted a net profit of Rs 68.30 crore in the first quarter of FY 2023-24.

Revenue from operations for the reporting quarter stood at Rs 885.07 crore, up 9.04 per cent from Rs 811.71 crore in Q1FY24, it said.

It also said that the company delivered a higher EBITDA (earnings before interest, taxes, depreciation and amortization) at Rs 116.24 crore in the previous quarter as against Rs 92.78 crore, registering a year-on-year growth of 25.28 per cent in the corresponding quarter of FY24.

The EBITDA margin during the period grew 170 basis points at 13.13 per cent, from 11.43 per cent last year, within the guided range of 12-14 per cent as the company increased investment in brand and customer-centric activities, Gulf Oil Lubricants India said.

"Our first-quarter ...