GP Petroleums Reports Increased Quarterly Profit Despite Revenue Dip

GP Petroleums Ltd announced a profit growth for the March quarter despite a slight revenue decline. The company's profit after tax was Rs 9.3 crore, up from Rs 8.6 crore the previous year, while revenue decreased to Rs 163 crore from Rs 183 crore.

GP Petroleums Ltd, a prominent player in industrial and automotive lubricants, has announced a profit after tax of Rs 9.3 crore for the March quarter, marking an increase from Rs 8.6 crore in the previous year. Despite this positive outcome, the company faced a decline in revenue, recording Rs 163 crore compared to Rs 183 crore in the prior year's same period.

The EBITDA margin for the fourth quarter stood at 9%, up from 7% the previous year, reflecting improved operational efficiency. Over the fiscal year, revenue from operations rose by 5% to Rs 643 crore. However, factors such as a wage provision of Rs 3.25 crore affected the profit after tax, which was Rs 26.50 crore versus Rs 26.30 crore last year. GP Petroleums also noted that geopolitical uncertainties and rising costs of crude-linked raw materials could pose upcoming challenges.