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Gulf Oil sees better 2nd half on revived auto sector, lower input prices

Gulf Oil sees better 2nd half on revived auto sector, lower input prices
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First Published: Mon, Nov 02 2009. 10 28 PM IST
Updated: Mon, Nov 02 2009. 10 28 PM IST
Hyderabad: Gulf Oil Corp. Ltd expects significantly higher revenue and profit in the second half of fiscal 2009-10 on the back of a revival in the auto sector and a substantial fall in the prices of key raw materials, managing director Subhas Pramanik said.
The Hinduja group company on Monday said its net profit for the half year to end-September improved to Rs33.23 crore from Rs7.67 crore a year earlier. Revenue improved 4.3% to Rs468.1 crore.
The company also plans to invest at least Rs5,000 crore in a knowledge city project it is developing over 100 acres in Hyderabad and a IT-cum-residential special economic zone (SEZ) in Bangalore over 40 acres, Pramanik said.
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First Published: Mon, Nov 02 2009. 10 28 PM IST