Gulf Oil Lubricants India’s (GOL) profit rose in the second quarter of the year amid record-high sales and easing cost pressures.The blender’s operating profit of 917.7mn Indian rupees ($11.1mn) rose from Rs840mn in the first quarter and by 24pc from year-earlier levels.Profit got a boost from a 15pc rise in sales to a record-high Rs8.12bn in the second quarter.Sales got support from strong growth in the business-to-business segment and from rising export volumes.Costs rose by 14pc in the second quarter. They lagged the rise in sales for the second time in the past eight quarters.Cost pressures eased amid lower regional base oils prices and a steadier currency.With sales rising faster than costs, GOL's operating profit margin of 11.3pc in the second quarter rose to the highest in more than a year.The margin remained lower than typical levels of closer to 16pc in the five years to end-2021. .Castrol India’s Q2 profit rises
Gulf Oil Lubricants India’s (GOL) profit rose in the second quarter of the year amid record-high sales and easing cost pressures.The blender’s operating profit of 917.7mn Indian rupees ($11.1mn) rose from Rs840mn in the first quarter and by 24pc from year-earlier levels.Profit got a boost from a 15pc rise in sales to a record-high Rs8.12bn in the second quarter.Sales got support from strong growth in the business-to-business segment and from rising export volumes.Costs rose by 14pc in the second quarter. They lagged the rise in sales for the second time in the past eight quarters.Cost pressures eased amid lower regional base oils prices and a steadier currency.With sales rising faster than costs, GOL's operating profit margin of 11.3pc in the second quarter rose to the highest in more than a year.The margin remained lower than typical levels of closer to 16pc in the five years to end-2021. .Castrol India’s Q2 profit rises
