Gulf Oil Lubricants India clocks record 59% growth in net profit for Q3

Gulf Oil Lubricants India Ltd (GOLIL), a Hinduja Group company, on Tuesday, recorded 59.14 per cent rise in net profit for the third quarter of the financial year ended on December 31 to Rs 424.9 million, as against Rs 267 million during the same time last year, propelled by an increase in volume. 

Net revenue for the reporting quarter stood higher at Rs 3.55 billion, up by 34.3 per cent versus Rs 2.64 billion in December quarter of FY17.

"The rise in net profit also has a base effect of demonetisation during the same time last year. The growing momentum in the