Gulf Oil slips after weak Q1 earning

Gulf Oil Corporation lost 3.06% to Rs 88.60 at 09.46 IST on BSE after net profit declined 33.1% to Rs 10.07 crore on 12.1% rise in net sales to Rs 247.58 crore in Q1 June 2012 over Q1 June 2011.

The result was announced after market hours on Wednesday, 1 August 2012

Meanwhile, the BSE Sensex was down 49.83 points, or 0.29%, to 17,207.55

On BSE, 38,038 shares were traded in the counter as against an average daily volume of 67,766 shares in the past one quarter.

The stock hit a high of Rs 91 and a low of Rs 87.30 so far during the day. The stock had hit a 52-week high of Rs 100.70 on 13 July 2012 and a 52-week low of Rs 52.25 on 24 November 2011.

The stock had outperformed the market over the past one month until 1 August 2012, rising 11.67% compared with the Sensex's 0.99% fall. The scrip had also outperformed the market in past one quarter, rising 11.94% as against 0.35% decline in the Sensex.

The small-cap lubricant oil maker has an equity capital of Rs 19.83 crore. Face value per share is Rs 2.

The Hinduja Group firm Gulf Oil India has four operating divisions - lubricants division, industrial explosives division, mining & infrastructure contracts division and property development.

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