GP Petroleums records PBT growth of 228% yoy to Rs6.43cr in Q4FY21; Stock ends lower

Revenue in Q4 rose 108% yoy to Rs192.78cr. Annual revenue increased 23% yoy to Rs611.09cr.

Jun 10, 2021 04:06 IST India Infoline News Service

GP Petroleum
GP Petroleums Limited reported a strong financial delivery for the Quarter ended March 2021. On the back of a robust Q3, the company delivered Q4 Revenue of Rs192.78cr (108 % higher over Q4FY20) and PBT of Rs6.43cr (228% higher over Q4FY20). Annual Revenue is at Rs611.09cr (up by 23% yoy) while PBT is at Rs23.61cr (higher by 26% yoy). 

“We did make the best of a bad bargain during Q4. The demand was moderate due to sporadic improvement in Industrial activity but the B2C automotive sector was yet to recover. The strong headwinds due to the pandemic and the skyrocketing of raw material prices across Baseoils, Steel, Packaging, Additives and Chemicals, and Logistics, posed multiple challenges,” Prashanth Achar, Chief Executive Officer, GP Petroleums Limited, said.  

“However, agility through smart procurement, the efficiency and effectiveness programs, responsible price revisions helped the Company safeguard the bottom line. During the year, with most of the geographies going under lockdowns meant re‐innovating the ways of working and imbibing the new‐normal quickly.

We ensured Safe operations with digital interventions for business continuity and for supporting the essential services.  Industrial business vertical continued to de‐risk the business with entry into new segments such as Injection moulding, Thermic fluids, Sugar, Steel Tube mills, Sponge Iron, etc. Metal working fluids segment, where Ipol Brand is a popular name, has been further strengthened with the advancement of the new age semi‐synthetic coolant. The launch of a range of high‐performance greases targeted at steel and sponge iron sector has completed the product portfolio,” he added.

GP Petroleums Ltd trade on Thursday ended at Rs68.50 per piece down by Rs2.65 or 3.72% from its previous closing of Rs71.15 per piece on the BSE.

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