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Our Bureau

Mumbai, May 27

Gulf Oil Corporation Ltd has clocked 95.27 per cent growth in net profit for the quarter ended March 31, 2007. Its net profit grew to Rs 7.85 crore from Rs 4.02 crore in the year-ago quarter. The net sales grew by 31.04 per cent to Rs 187.78 (Rs 143.29).

The company has also informed the stock exchange that it has entered into agreements for development of its three smaller properties and an option for development agreement of its larger properties at Hyderabad and Bangalore. During the quarter, the company has received Rs 33.37 crore as part amount towards development rights and a non-refundable commitment fee.

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Gulf Oil Corp net up

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