Gulf Oil Lubricants India rose 1.84% to Rs 754 at 12:35 IST on BSE after net profit rose 27.98% to Rs 30.23 crore on 10.36% growth in net sales to Rs 273.73 crore in Q2 September 2016 over Q2 September 2015.
The result was announced after market hours yesterday, 20 October 2016.Meanwhile, the S&P BSE Sensex was down 122.73 points or 0.44% at 28,004.93
On BSE, so far 6,949 shares were traded in the counter as against average daily volume of 3,621 shares in the past one quarter. The stock hit a high of Rs 774 and a low of Rs 745.75 so far during the day. The stock had hit a record high of Rs 780.40 on 7 October 2016. The stock had hit a 52-week low of Rs 452.10 on 21 March 2016. The stock had outperformed the market over the past 30 days till 20 October 2016, gaining 1.51% compared with 1.32% fall in the Sensex. The scrip also outperformed the market in past one quarter, advancing 25.02% as against Sensex's 1.17% rise.
The mid-cap company has equity capital of Rs 9.92 crore. Face value per share is Rs 2.
Gulf Oil Lubricants India's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 14% to Rs 44 crore in Q2 September 2016 over Q2 September 2015. The company's EBIDTA margins expanded by about 52 basis points on year on year basis to about 16.1% in Q2 September 2016 on the back of volume growth and steady margin.
Gulf Oil Lubricants India said that inspite of Q2 September 2016 quarter being seasonally a low offtake quarter due to the monsoons and reduced vehicle/equipment movements, the company achieved all round volume gains across segments to notch up overall double digit volume growth during the quarter.
Gulf Oil Lubricants India makes automotive and industrial lubricants, greases and 2-wheeler batteries. The company markets lubricants under the Gulf brand.
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