Gulf Oil Lubricants India Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 18, 2023 at 08:42 am EDT
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Gulf Oil Lubricants India Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 7,920.5 million compared to INR 6,389.3 million a year ago. Revenue was INR 8,058.72 million compared to INR 6,506.57 million a year ago. Net income was INR 621.57 million compared to INR 633.75 million a year ago. Basic earnings per share from continuing operations was INR 12.67 compared to INR 12.57 a year ago. Diluted earnings per share from continuing operations was INR 12.65 compared to INR 12.35 a year ago.
For the full year, sales was INR 29,991 million compared to INR 21,916.39 million a year ago. Revenue was INR 30,462.22 million compared to INR 22,358.22 million a year ago. Net income was INR 2,323.04 million compared to INR 2,110.56 million a year ago. Basic earnings per share from continuing operations was INR 47.3 compared to INR 41.89 a year ago. Diluted earnings per share from continuing operations was INR 47.16 compared to INR 41.63 a year ago.
Gulf Oil Lubricants India Limited is an India-based provider of lubricants and car and bike services. The Company is engaged in the business of manufacturing, marketing and trading of automotive and non-automotive lubricants and synergy products. Its offerings include automotive lubricants, industrial lubricants and specialty oils, electric vehicle (EV) fluids, marine lubricants, AdBlue, and two-wheeler valve regulated lead acid (VRLA) battery. Its bike stop and car stop services include Gulf engine oil change, mechanical repair, electrical services, vehicle detailing, insurance, and tire and wheel change. It directly supplies to over 40 original equipment manufacturers and 500 business to business (B2B) customers, including industries, infrastructure sectors, mining enterprises, fleet customers, state transport agencies, and government undertakings. The Company, through its subsidiary, Tirex Transmission Private Limited, is a manufacturer of direct current (DC) fast chargers for EV.