Gulf Oil’s profit after tax falls 8% to Rs 58.6 crore in December quarter

Lubes maker Gulf Oil on Thursday reported an eight per cent drop in profit after tax (PAT) to Rs 58.63 crore for the December 2021 quarter.

Gulf Oil had posted a PAT of Rs 64 crore in the corresponding quarter last year, the company said in a statement.

At the same time, net revenue surged 25 per cent to Rs 601.82 crore, compared with Rs 481.86 crore delivered in the October-December period of the previous fiscal, helped by growth in business from industrial, B2B segments, OEMs (original equipment manufacturers) franchise workshops as well as from infra sector customers, it said.