Gulf Oil Corporation Ltd has posted a net profit of Rs 15.03 crore for the third quarter ended December 31, 2012 against Rs 13.09 crore in the corresponding quarter last year.
The Hinduja Group company has registered a total income of Rs 247.96 crore during the quarter under review against Rs 242.04 crore in the corresponding period last year.
The company through its step-down subsidiary in the United Kingdom and the US has completed the acquisition of 100 per cent stake in speciality lubricant company Houghton International in December.
The company has informed the exchanges that the board has decided to restructure various businesses including demerger of the lubricants division in to a separate listed company.
The committee of directors of the board were authorised to consider the matter in detail and make necessary recommendations.