Tidewater Oil Q4 net dips 10.2%
Lube manufacturer Tidewater Oil, a member of the Andrew Yule group, today said its net profit dipped around 10 per cent year-on-year to Rs 13.87 crore during the last quarter of 2011-12.
By PTI | Updated:
KOLKATA: Lube manufacturer Tidewater Oil, a member of the Andrew Yule group, today said its net profit dipped around 10 per cent year-on-year to Rs 13.87 crore during the last quarter of 2011-12.
Net profit of the company during the same quarter last year stood at Rs 15.45 crore.
Sales of the company during the last quarter of FY12 stood at Rs 214 crore as compared to Rs 204 crore in the previous period, registering a rise of 3.38 per cent.
"We are planning to access the markets of Middle East, South Africa, Mexico, Germany and Asia Pacific for the Veedol brand lubes which it acquired from BP", Datta told reporters here today.
He said that JX Nippon Oil & Energy Corp, with which Tidewater has a technical collaboration, was also keen to explore the Indian market.
Tidewater had also set up a subsidiary in Dubai.
Net profit of the company during the same quarter last year stood at Rs 15.45 crore.
Sales of the company during the last quarter of FY12 stood at Rs 214 crore as compared to Rs 204 crore in the previous period, registering a rise of 3.38 per cent.
"We are planning to access the markets of Middle East, South Africa, Mexico, Germany and Asia Pacific for the Veedol brand lubes which it acquired from BP", Datta told reporters here today.
He said that JX Nippon Oil & Energy Corp, with which Tidewater has a technical collaboration, was also keen to explore the Indian market.
Tidewater had also set up a subsidiary in Dubai.
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