GP Petroleums Limited reports Q1 FY23 profit of Rs 15.4cr

GP Petroleums Limited has reported a profit before tax (PBT) of INR 15.4 crores in the first quarter of the fiscal year 2023 (Q1 FY23) ended 30 June 2022.

The Indian petroleum lubricating oil and grease manufacturing company earned revenue of INR 220.14 crores during the reported quarter, which is an increase of 43% compared to revenue of INR 155.31 crores in Q1 FY22.

Prashanth Achar — GP Petroleums Limited CEO said: “Top-line growth of 43% is attributable to low-base effect and inflation. However, noteworthy is the delivery of Rs 15.4 Cr of PBT by the team.

“This is the highest ever quarterly profit in the history of the Company. What makes it even sweeter is the delivery in a totally hostile environment, a tribute to the Brand IPOL as it sets foot into the 50th year!”