Gulf Oil Corporation Ltd has posted a net profit of Rs 20.93 crore for the fourth quarter ended March 31, 2012, against Rs 18.89 crore for the corresponding quarter last year.
The company revenues for the fourth quarter were Rs 299.98 crore against Rs 250.78 crore for the corresponding period last year.
Gulf Oil, a Hinduja group company, recorded a profit after tax of Rs 62.11 crore, a growth of over 15 per cent over last year's profit of Rs. 54.19 crore.
The company closed the financial year ended March 2012 with a turnover of Rs 1,074 crore against Rs 999.54 crore for the pervious financial year.
The company board declared a dividend of 110 per cent.
Unit's performance
The lubricants division registered a turnover of Rs 231 crore for the quarter against Rs 184 crore.
The division's profit was up 21 per cent in spite of pressure on margins due to raw material costs and price reductions in the market.
The lubricants arm logged revenues of Rs 822 crore for the year against Rs.588 crore.
The sales of co-branded range of oils with Ashok Leyland and Mahindra and Mahindra also contributed to volumes.
The company had partnered with Chennai Super Kings during IPL-5.
Realty venture
The company has recently taken up works on the real estate venture in Bangalore where it plans to invest up to Rs 1,800 crore in association with Hinduja Realty Ventures Ltd.
Plans are under way for Hyderabad project.
The company shares closed at Rs 71.60 down 1.85 per cent.