Hinduja Group company Gulf Oil Corporation announced Rs 8.09 crore net profit for the first quarter of 2014. This is the first quarter of operations of the company after the demerger of lubricants division to a separate entity with effect from April 1, 2014, Business Standard reported. During the quarter, Gulf Oil reported a turnover of Rs 24.41 crore. A major portion of the revenues came from its energetics division, at Rs 23 crore. The division’s significant growth was led by higher export sales and on production of value-added products, the company said.
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