Gulf Oil rises after Q3 PAT climbs 15% YoY
Gulf Oil Lubricants India (GOLIL) rose 2.58% to Rs 714 after net profit jumped 14.6% to Rs 64 crore on 14.2% increase in net sales at Rs 481.86 crore in Q3 December 2020 over Q3 December 2019.
Profit before tax (PBT) soared 16.5% to Rs 85.73 crore in Q3 December 2020 as against Rs 73.59 crore in Q3 December 2019. Tax expense for the quarter rose 16.6% to Rs 21.93 crore as against Rs 18.80 crore in Q3 December 2019. The Q3 result was declared after market hours on Friday, 5 February 2021.
On the back of significantly improved demand conditions across segments, both B2C and B2B and aided by improved OEM demands, Gulf Oil Lubricants India has delivered nearly 16% volume growth Y-o-Y (year-on-year) during Q3. Profit after tax (PAT) has grown inspite of rising pressure from input costs side but helped with continuing cost initiatives and margin management strategies initiated, the firm stated.
