The shares of Gulf Oil jumped over 7 percent on February 7 after the company reported a 22 percent year-on-year surge in its net profit for the quarter which ended on December 31, 2024. The shares of the company were trading at Rs 1,156 apiece, as seen at 12.18 pm.
Gulf Oil released its results for the third quarter of the current financial year (FY25) in the post market hours of February 6. The company reported a consolidated net profit of Rs 97.91 crore for the reported quarter, marking a rise of nearly 22 percent from the Rs 80.10 crore net profit reported in the corresponding period of FY24.
Its revenue from operations meanwhile rose nearly 13 percent year-on-year to Rs 920.40 crore in Q3 FY25. It had earlier reported revenue from operations at Rs 817.51 crore in Q3 of previous financial year.
Also read: Our LIVE blog on Q3 results
Along with the Q3 results, the company also announced an interim dividend of Rs 20 per equity share for the current financial year. The record date to determine the eligibility of the shareholders set to receive the payment has been set at February 14.
Commenting on the Q3 results, Gulf Oil Lubricants Managing Director & CEO Ravi Chawla said, "Despite macroeconomic headwinds, we at Gulf Oil focused on creating an agile environment and capitalize on the opportunities to swiftly navigate the evolving landscape. This led us to achieve our highest-ever quarterly volume and strong double-digit topline growth of 11% year-on-year, crossing Rs. 900 Crores in a quarter for the first time."
The company also announced the appointment of Nirvik Singh as an Additional Non-Executive, Independent Director for a term of five years. His appointment will be effective from February 6, subject to approval of the shareholders of the company.
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