Gulf Oil Corporation’s Q2 net rises 6%

The company's H1 net also zoomed by 30 percent at Rs 28 crore over the last year.

Gulf Oil Corporation,a Hinduja Group company,today reported a 6 percent rise in net proft at Rs 13 crore for the quarter ended September 30,2011 over the year-ago period.

The company’s H1 net also zoomed by 30 percent at Rs 28 crore over the last year,while the Q2 income stood at Rs 256 croe.

The Lubricants division of the company continued to record growth in revenues and volumes in Q2 as well.

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The gross turnover for the quarter increased to Rs 223 crore compared to Rs 161 crore in the corresponding quarter of the previous year,a press release issued by the Hyderabad-based company said today.

During the quarter,the Explosives division of the company clocked sales at Rs 25 crore,while IDLconsult,the mining and infrastructure division,reported a turnover of Rs 7 crore,it said.

Gulf Corporation formed IDLconsult division in 2001 in view of meeting growing need of efficient and well planned mining operations.

The division is in discussions on long-term projects in mining and infrastructure sector and is expecting orders to the tune of Rs 200 crore in the next two quarters to augment the current order booking position to Rs 220 crore,the release added.

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