Gulf Oil Lubricants India Ltd on Wednesday (October 25) reported a 40.7% year-on-year (YoY) jump in net profit at ₹73.6 crore for the second quarter that ended September 30, 2023.

In the corresponding quarter last year, Gulf Oil Lubricants posted a net profit of ₹52 crore, the company said in a regulatory filing.

In the quarter, the total revenue stood at ₹802.3 crore, up 11.5% from ₹719.5 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 25.2% to ₹100.4 crore in the second quarter of this fiscal, from ₹80.2 crore in the corresponding period in the previous fiscal.

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EBITDA margin stood at 12.5% in the reporting quarter as compared to 11.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

In the reporting quarter, the company recorded a net revenue of ₹802.30 crore, a growth of 11.51%.

During half year ended September 30, 2023, the company reported a net revenue of ₹1,614.01 crore as against Rs 1,425.95 crore, a growth of 13.19%, and PAT of ₹141.93 crore as against ₹107.47 crore, a growth of 32.06%.

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The quarter witnessed a good performance on the volume, revenue, margin, and profit fronts with continued robust double-digit revenue growth and further sequential improvement in margins leading to the first time the company crossed the ₹100 crore EBITDA mark in a single quarter, Gulf Oil Lubricants India said.

The results came after the close of the market hours. Shares of Gulf Oil Lubricants India Ltd ended at ₹539.95, down by ₹0.20, or 0.037%, on the BSE.