GP Petroleums' quarterly profit jumps to Rs 7.39 cr

GP Petroleums, part of the UAE-based GP Global, on Friday reported a 34 per cent jump in total comprehensive income to Rs 7.39 crore in the September quarter. The company's total comprehensive income stood at Rs 5.50 crore in the year-ago period, according to a regulatory filing. Total revenue in the latest September quarter rose 6.7 per cent to Rs 168.41 crore.

GP Petroleums, part of the UAE-based GP Global, on Friday reported a 34 per cent jump in total comprehensive income to Rs 7.39 crore in the September quarter. The company's total comprehensive income stood at Rs 5.50 crore in the year-ago period, according to a regulatory filing.

Total revenue in the latest September quarter rose 6.7 per cent to Rs 168.41 crore. In the same period a year ago, it was at Rs 157.69 crore. In a release, GP Petroleums said its Profit Before Tax (PBT) in the quarter under review surged 116 per cent to Rs 9.8 crore. The PBT was Rs 4.53 crore in the July-September period of last fiscal.

"The cash flow management driven by our mantra 'Tank to Bank Velocity' helped keep the business healthy," Prashanth Achar, CEO of GP Petroleums, said..