GP Petro secures Rs 223 crore order from HPCL

Company to supply 50,000 MT of Bulk Bitumen-VG30

GP Petroleums has announced that it has secured a Rs 223-crore order from Hindustan Petroleum Corporation Limited (HPCL). The contract entails the supply of 50,000 Metric Tonnes (MT) of Bulk Bitumen - VG30, adhering to the standards outlined in IS 73-2013. HPCL will specify the delivery locations as per its requirements.

The initial duration of the agreement is one year, with an option for a one-year extension at HPCL's discretion.

GP Petroleums is primarily into manufacturing of lubricants & greases in India. The company also trades in base oils, bitumen, coal and bunker fuel oil when market conditions are favorable.

 

Net profit of GP Petroleums declined 49.11% to Rs 4.85 crore while net sales declined 22.76% to Rs 125.11 crore in Q2 September 2024 over Q2 September 2023.

Shares of GP Petroleums fell 0.53% to settle at Rs 61.40 on Friday, 29 November 2024.

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