Gulf Oil Lubricants Reports Strong Q3 Results Amid Rising Non-Operating Income Concerns
Gulf Oil Lubricants India has announced its financial results for the quarter ending December 2024, reporting record quarterly net sales of Rs 920.40 crore and an operating profit of Rs 122.52 crore. Profit After Tax reached Rs 97.91 crore, with a notable increase in cash and cash equivalents.
Gulf Oil Lubricants India has recently reported its financial results for the quarter ending December 2024, showcasing a notable performance in various key metrics. The company achieved its highest quarterly net sales in the last five quarters, reaching Rs 920.40 crore. This positive trend in sales is complemented by an operating profit (PBDIT) of Rs 122.52 crore, also the highest in the same timeframe. Profit After Tax (PAT) stood at Rs 97.91 crore, reflecting a year-on-year growth of 22.2%. This growth indicates a robust performance in profitability, with earnings per share (EPS) reaching Rs 19.86, marking the highest level in the past five quarters. Additionally, Gulf Oil Lubricants reported a significant increase in cash and cash equivalents, totaling Rs 890.26 crore, suggesting an improvement in short-term liquidity.
However, the company also noted a rise in non-operating income, which reached Rs 34.03 crore. While this figure is the highest in five quarters, it raises questions about the sustainability of income derived from non-business activities.
In light of these developments, Gulf Oil Lubricants has undergone an adjustment in its evaluation, reflecting the recent financial performance.
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