Financial Daily from THE HINDU group of publications
Friday, Jan 28, 2005
Financial Daily from THE HINDU group of publications Friday, Jan 28, 2005 |
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Corporate Results
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Petroleum Gulf Oil net higher at Rs 5.03 crore Our Bureau
Hyderabad , Jan. 27 GULF Oil Corporation, a Hinduja Group Company has posted a 16 per cent higher net profit of Rs 5.03 crore during the quarter ended December, 2004 as against Rs 4.34 crore in the corresponding quarter last fiscal. The total turnover (net of excise) for the third quarter was Rs 120 crore compared to Rs 102 crore, the previous year, a 18 per cent jump. Export turnover increased by 60 per cent, the company said in a press release. While its lubricants registered increased turnover the company's contracts division, bagged a new mining contract at two mines of one of Orissa's large private steel plants. The explosives department, however, suffered a decline in turnover of Rs 7 crore, due to non-availability of ammonium nitrate, the main raw material, from fertiliser units.
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