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Gulf Oil Corporation Limited has posted a net profit of Rs 18.35 crore for the fourth quarter ended March 31, 2014 as against Rs 17.28 crore for the corresponding quarter last year.
The company total income from operations for the fourth quarter was up at Rs 272.30 crore versus Rs 265.30 crore for the same period last year.
The Hinduja Group corporation closed the financial year ended March 31, 2014 with a net profit of Rs 70.24 crore and a turnover of Rs 1,300.54 crore as against a profit of Rs 47.53 crore and a turnover of Rs 1,284.79 crore for the previous financial year.
Gulf Oil International (Mauritius) Inc., promoters of Gulf Oil Corporation Limited on March 27, 2014 acquired 4.99 per cent additional equity shares of the company, taking their holding up to 54.98 per cent. With this development, Gulf oil corporation Limited has become its subsidiary.
The Board of Directors of the company at its meeting held on March 26 declared interim dividend of Rs 2.50 per share (125 per cent) for the financial year ended March 31, 2014. The Board further recommended that the interim dividend be treated as the final dividend for the Financial Year 2013-14.
The company shares closed the day at Rs 121.30, down 2 per cent.
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