Hinduja Group firm Gulf Oil Lubricants today reported 13 per cent increase in net profit at Rs 20.47 crore for the quarter ended on June 30, 2015.
The company had posted a net profit of Rs 18.02 crore in the year ago period.
Total income from operations during the April-June period of current fiscal rose to Rs 230.42 crore from Rs 226.05 crore in the same period of 2014-15.
"... While there has been positive growth in volumes and revenues, the recent price discounting to adjust to the competitive market scenario has resulted in lower growth in revenues this quarter," the company said in a statement.
The company also launched advertising campaigns for its motorcycle and scooter lubricant products, which received a very positive response.
Shares of the company today closed at Rs 548.75 apiece on BSE, up 8.81 per cent over previous close.
