Indias Savita Oil Technologies Ltd., a supplier of transformer oils, white oils, lubricants and other products, reported that first quarter net profit grew nearly 16 percent as revenue and other income increased.
Savita posted a standalone net profit of Rs 23.4 crore (Rs 234 million, or U.S. $3.6 million) for the April to June 2017 period, up from Rs 20.2 crore a year earlier, according to a regulatory filing.
The companys other income surged approximately 84 percent to Rs 3.4 crore. Total expenses rose about 22 percent to Rs 433 crore.
Savita, whose two key business segments are petroleum products and renewable energy, reported that total revenue from operations increased 21 percent to Rs 463 crore.
The companys petroleum products segment – which supplies transformer oils; white oils and liquid paraffins; automotive, aviation and industrial oils; coolants, waxes and more – recorded revenue of Rs 453.2 crore, up 22 percent. Profit before tax and finance cost increased 13 percent to Rs 32.2 crore.