GP Petroleums Reports 27% Surge in Q2 Profit, Revenue Dips
GP Petroleums Limited, a lubricating oils and greases manufacturer, reported a 27% increase in profit to ₹601.69 lakhs for Q2 FY2023, despite a 7.2% decline in revenue to ₹20,426.31 lakhs. Half-year profit jumped 160% to ₹1,744.49 lakhs. The company operates in manufacturing and trading segments. Recent trends show a 13.08% year-over-year decrease in quarterly revenue to ₹158.80 crore and a 25.58% decrease in net profit to ₹6.40 crore. Operating Profit Margin declined to 5.99% from 6.88% in the same quarter last year.
*this image is generated using AI for illustrative purposes only.
GP Petroleums Limited, a prominent player in the lubricating oils and greases manufacturing sector, has reported a significant increase in profit for the quarter ended September 30, 2022, despite a slight dip in revenue.
Financial Highlights
- Profit Surge: The company's profit for Q2 FY2023 stood at ₹601.69 lakhs, marking a substantial 27% increase from ₹473.48 lakhs in the previous quarter.
- Revenue Decline: Revenue from operations saw a slight decrease, coming in at ₹20,426.31 lakhs compared to ₹22,013.68 lakhs in the prior quarter, representing a 7.2% decline.
- Half-Year Performance: For the half-year period, GP Petroleums reported a profit of ₹1,744.49 lakhs, showcasing a remarkable 160% jump from ₹669.59 lakhs in the same period last year.
- Earnings Per Share: Basic earnings per share for the quarter stood at ₹1.18.
Segment-wise Operations
GP Petroleums operates in two primary segments:
- Manufacturing: This segment includes the production of lubricating oils and greases.
- Trading: The company engages in trading activities for base oil, bitumen, and fuel oil.
Board Approval
The Board of Directors of GP Petroleums Limited approved these unaudited financial results on November 10, 2022.
Financial Performance Analysis
While the quarterly revenue showed a slight decline, the company's ability to significantly boost its profit margins is noteworthy. The substantial increase in half-yearly profit indicates strong overall performance and effective cost management strategies.
Recent Financial Trends
Based on the latest available financial data:
- Revenue: The company reported revenue of ₹158.80 crore in the most recent quarter, showing a 13.08% decrease compared to the same quarter last year.
- Net Profit: Net profit stood at ₹6.40 crore, reflecting a 25.58% decrease from the previous year's corresponding quarter.
- Operating Profit Margin: The OPM for the latest quarter was 5.99%, down from 6.88% in the same quarter last year.
These recent figures suggest that while GP Petroleums has faced some challenges in maintaining revenue growth, the company continues to focus on profitability and operational efficiency.
The significant profit growth reported in Q2 FY2023, despite the revenue dip, demonstrates the company's resilience and ability to optimize its operations in a dynamic market environment.
Historical Stock Returns for GP Petroleums
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.35% | -0.92% | -1.02% | -0.25% | -40.74% | +14.09% |
19
