Date:26/07/2008 URL: http://www.thehindu.com/2008/07/26/stories/2008072650641600.htm

Business - Briefly

Gulf Oil’s Q1 net increases marginally

HYDERABAD: Gulf Oil Corporation, a Hinduja Group company, posted a marginal increase of Rs. 26 lakh in net profit at Rs. 5.58 crore in the first quarter of 2008-09, as compared to Rs. 5.32 crore in the corresponding period last year. Revenue grew by 34 per cent to Rs. 247.22 crore from Rs. 184.80 crore. The lubricants division contributed a growth of Rs. 40.78 crore. There was a Rs. 10-crore increase in its explosives business and over Rs. 6 crore loss in specialty chemicals, according to a release.

— Special Correspondent