Gulf Oil Lubricants India gained 5.49% to Rs 656 at 14:23 IST on BSE after net profit rose 52.2% to Rs 31.16 crore on 23.2% growth in net sales to Rs 283.02 crore in Q1 June 2016 over Q1 June 2015.
The result was announced after market hours yesterday, 3 August 2016.Meanwhile, the S&P BSE Sensex was down 30.56 points or 0.11% at 27,666.95
On BSE, so far 18,000 shares were traded in the counter as against average daily volume of 1,674 shares in the past one quarter. The stock hit a high of Rs 660 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 630.60 so far during the day. The stock had hit a 52-week low of Rs 401.90 on 25 August 2015. The stock had outperformed the market over the past one month till 3 August 2016, rising 9.19% compared with 2.04% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 18.95% as against Sensex's 9.78% rise.
The small-cap company has equity capital of Rs 9.91 crore. Face value per share is Rs 2.
Gulf Oil Lubricants India's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 39.7% to Rs 48.47 crore in Q1 June 2016 over Q1 June 2015. The company's EBIDTA margins expanded by about 202 basis points on year on year basis to about 17.1% in Q1 June 2016 on the back of volume growth.
Gulf Oil Lubricants India said its Q1 June 2016 results press release that the company has gained significant volume traction in Q1 June 2016 achieving growth across all business segments. The company's initiatives on distribution expansion started showing impact as its channel business grew double digit in volumes after many quarters. B2B businesses including original equipment manufacturer (OEM) volumes have also continued their growing trend recording double digit growth, the company said. An institutional order also boosted volumes in Q1 June 2016, it added.
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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