Gulf Oil Lubricants India Achieves Record Quarterly Volume

Gulf Oil Lubricants India reported a 21.59% year-on-year rise in standalone profit for Q3 FY24, reaching Rs 98.15 crore. Revenue rose 10.72% to Rs 904.88 crore. The firm announced a Rs 20 interim dividend per share, highlighting strong performance despite economic challenges, and aims for growth in EV charging.

Gulf Oil Lubricants India has posted a robust 21.59% increase in standalone profit for the December quarter of fiscal year 2024, totaling Rs 98.15 crore. This marks a significant rise from Rs 80.74 crore recorded in the same period last year.

The company's revenue reached Rs 904.88 crore for the third quarter, a 10.72% growth compared to Rs 817.26 crore in the previous year, according to the company's statement. EBITDA also saw a 10.03% increase, amounting to Rs 122.20 crore, indicating positive business momentum.

The board declared an interim dividend of Rs 20 per equity share, showcasing the company's commitment to maximizing shareholder returns. Despite challenging market conditions, Gulf Oil Lubricants managed to achieve record quarterly volume and maintain strong profitability, as well as boost growth prospects in the EV charging sector.