Date:27/10/2005 URL: http://www.thehindubusinessline.com/2005/10/27/stories/2005102702260300.htm

Back Gulf Oil Q2 revenue, net up

Our Bureau

HYDERABAD: Gulf Oil Corporation Ltd has reported an operating income of Rs 99.72 crore and a net profit of Rs 6.55 crore for the quarter ended September 30, 2005 against an operating income of Rs 87.26 crore and a net profit of Rs 5.91 crore for the corresponding quarter last year.

This reflects an increase of 10.9 per cent in net profit and 14.3 per cent in operating income over the corresponding quarter last year.

The Lubricants Division posted a turnover of Rs 51.36 crore (Rs 45.36 crore), an increase of 13.2 per cent. The Explosives Division has restructured its product portfolio and rationalised the workforce through the extended voluntary retirement scheme.

The company's contracts division, which undertakes work relating to mining and infrastructure services, recorded a turnover of Rs 18.70 crore (Rs 10.82 crore), representing a 73 per cent growth.