GP Petroleums Ltd Q1FY24; 60% fall in Profits

GP Petroleums Ltd., incorporated in 1983, is engaged in the Manufacturing & Marketing of Industrial and Automotive Lubricants, Rubber Process Oils, etc., and the Trading of Base Oil and Fuel Oil.
GPPL is a part of the Gulf Petrochem FZC Group of companies,promoted by the Goel family. The ultimate parent co. – Gulf Petrochem FZC (GPF) – is an oil trader and ship fuel supplier based in the United Arab Emirates.

Financial Results:

• GP Petroleums Ltd reported Revenues for Q1FY24 of ₹177.37 Crores down from ₹220.14 Crore year on year, a fall of 19.43%.
• Total Expenses for Q1FY24 of ₹171.46 Crores down from ₹204.77 Crores year on year, a fall of 16.27%.
• Consolidated Net Profit of ₹4.62 Crores down 59.58% from ₹11.43 Crores in the same quarter of the previous year.
• The Earnings per Share is ₹0.91, down 59.38% from ₹2.24 in the same quarter of the previous year.

*It is important to note that the way the results have been accounted for are slightly different than the ones the companies may choose to publish.
*The presented data is automatically generated. It may occasionally generate incorrect information.