Balmer Lawrie & Co. reported an increase in consolidated operating profit, Tide Water Oil Co.s consolidated net profit declined, and Continental Petroleum Ltd. posted a drop in net profit, each for the full fiscal year ending March 31.
Balmer Lawrie & Co.
Balmer Lawrie & Co., one of Indias largest grease suppliers, reported fourth-quarter operating profit from its greases and lubricants segment surged 55 percent year on year, supported by higher revenue.
The segment posted a standalone profit of Rs 13.66 crore (Rs 136.6 million or U.S. $2 million) before tax and interest during the quarter that ended March 31, up from Rs 8.82 crore a year ago, the government-owned company said in a regulatory filing.
The supplier of Balmerol-branded products said revenue for the segment rose 4 percent to Rs 89.57 crore during the quarter.
For fiscal year 2018-2019, Balmer Lawries greases and lubricants segment reported that its consolidated operating profit increased 21 percent year on year to Rs 37.54 crore. However, the segments revenue declined 6 percent to about Rs 376 crore during the period.
Tide Water Oil Co.
Tide Water Oil Co.s standalone net profit largely remained flat in the fourth-quarter as higher expenses offset the impact of increase in revenue.
Net profit totaled Rs 28.40 crore in the quarter that ended March 31, slightly up from Rs 28.32 crore a year earlier, the lubricant maker said in a regulatory filing.
The supplier of Veedol-branded lubricants said revenue from operations increased 4.5 percent to Rs 311.39 crore. Total expenses were up 8 percent at Rs 280.23 crore during the quarter.
For the fiscal year 2018-19, the Kolkata-based companys consolidated net profit declined 9 percent to Rs 96.97 crore. However, revenue rose 5 percent to Rs 1,379.41 crore.
Continental Petroleums Ltd.
Indias Continental Petroleums Ltd. reported a 44 percent year on year drop in its fourth-quarter profit, as revenue declined.
Net profit plunged to Rs 28.55 lakh (Rs 2.86 million or U.S. $40,860) in the quarter that ended March 31 from Rs 50.98 lakh in the same period last year, the lubricant and grease seller said in a regulatory filing.
Total revenue declined nearly 16 percent on year to Rs 12.61 crore. The Jaipur-based company, which sells lubes under its Contol brand, didnt disclose the reasons for lower revenue. Total expenses were down 14.4 percent to Rs 12.16 crore.
For the 2018-2019 fiscal year, net profit decreased 24 percent to Rs 71.55 lakh, and total revenue fell 10 percent to Rs 49.89 crore.