Gulf Oil Q3 net up 15%

Total income from operations up 2.5% to Rs 248 cr vs Rs 242 cr

Gulf Oil Corporation, a Hyderabad-based Hinduja Group company, reported a 14.90 % increase in net profit to Rs 15.04 crore for the third quarter ended December 31, 2012, as against Rs 13.04 crore in the corresponding quarter last year.

Total income from operations grew 2.45% to Rs 247.97 crore for the quarter, as compared to Rs 242.05 crore in the same quarter a year ago.  The total expenses of the company increased marginally at 1.24% to Rs 232.95 crore for the quarter, as against Rs 230.10 crore in the same quarter last financial year, the company said in a filing to the Exchange.

The company on December 20, 2012, through its step down subsidiary structure in the UK and US has completed acquisition of 100% stake in US-based Houghton International Inc., a global player in metal working fluids, for $ 1.045 billion, it said.

Gulf Oil's scrip is currently trading at Rs 77.65 on BSE, up 0.65% over the previous close of Rs 77.15.