Gulf Oil net up 4.69% at Rs 5.57 crore

Total revenues touched Rs 236.61 crore during the quarter, as against Rs 172.41 crore in the corresponding quarter a year ago, up 37.23 per cent. Earnings per share remained at Rs 0.75.
 
According to managing director S Pramanik, the company incurred a loss of Rs 5.58 crore on forex fluctuation as against a gain of Rs 2.14 crore last year. The overall expenditure increased 41.61 per cent to Rs 223.6 crore for the quarter under review from Rs 157.89 crore during the same quarter last year. Consumption of raw materials, expenses on operation contracts, employee costs and depreciation had all gone up resulting in higher expenditure.