Profits Up for Gulf, Apar; Down for Savita BY K. VENKATESHWAR RAO
Profits Up for Gulf, Apar; Down for Savita BY K. VENKATESHWAR RAO Gulf Oil Lubricants India Ltd. and Apar Industries each reported healthy increases in profit for their fourth quarter, due to a jump in sales. Meanwhile, Savita Oil Technologies Ltd. reported a decline in net profit but an increase in total revenues. Gulf Oil Lubricants Gulf Oil Lubricants India Ltd., a Hinduja Group company, reported a net profit of Rs 47.6 crore (Rs 475.7 million or U.S. $6.9 million) for the three months ended March 31, up 15 percent from the year-earlier period. For the full fiscal year, Mumbai-based Gulf Oil Lubricants India reported a net profit of Rs 177.78 crore up 12.12 percent from the same period of 2017-2018. Total income for the quarter jumped almost 17 percent to Rs 445 crore from Rs 380.4 crore during the same period last year. Full-year total income for the company increased to Rs 1,735.34 crore, up almost 24 percent from the previous year’s Rs 1,4...