MUMBAI: The March quarter results of Gulf Oil Lubricants India Ltd are decent to begin with. Revenues rose 44% year-on-year to Rs517 crore on the back of a 39% robust volume growth. For the March quarter, Gulf Oil’s earnings before interest, tax, depreciation and amortization (Ebitda) increased 41% year-on-year to Rs78 crore. “With sustained outperformance (4% volume growth in FY21 versus decline for industry), we anticipate continued growth in market share for Gulf Oil Lubricants. To be sure, shares of Gulf Oil are nearly 18% away from its pre-covid highs seen in January 2020.

Source: Mint June 01, 2021 12:22 UTC