Lubricants maker Tide Water Oil Co. (India) Ltd. reported a nearly fourfold rise in its fourth-quarter net profit, as sales and other income increased. Lower tax expenses also contributed.

The supplier of Veedol-branded lubricants posted a standalone net profit of approximately Rs 34.4 crore in the period, up from Rs 9.2 crore.

The Kolkata-headquartered firm said its other income increased 24 percent to Rs 7 crore while tax expenses decreased nearly 16 percent to Rs 13.1 crore. Total expenses were up 4 percent at Rs 261.6 crore, the companys regulatory filing noted.

Tide Water reported that its standalone net sales increased 3 percent to Rs 301.5 crore, from Rs 292.1 crore. The company services over 50,000 retail outlets in India through its network of 50 distributors and more than 650 dealers. It also makes genuine oils for a number of original equipment manufacturers in the automotive and industrial equipment segment. Some of its customers include Royal Enfield, L&T Komatsu Ltd., Hero MotoCorp Ltd. and Kobelco Cranes India Ltd.

For the fiscal year, Tide Waters net sales rose 3 percent to Rs 1,132 crore from Rs 1,098 crore. Annual net profit, however, jumped approximately 24 percent on year to Rs 103 crore.

Tide Water, part of state-owned Andrew Yule Group, has five manufacturing facilities in India. The companys automotive products include engine oils for trucks, tractors, commercial vehicles, passenger cars and two- and three-wheelers. It also produces gear oils, transmission oils and coolants and greases for automobiles as well as a wide range of industrial lubricants.

Savita Oil Technologies Ltd.

Indias Savita Oil Technologies Ltd., a supplier of transformer oils, white oils, lubricants and other products, reported that its fourth-quarter net profit nearly quadrupled, thanks to higher revenue and a jump in other income.

The Mumbai-based company posted a standalone net profit of Rs 31.5 crore in its fourth quarter, up from Rs 8.8 crore a year earlier, according to its earnings report.

The companys other income surged nearly 231 percent to Rs 12.4 crore. Total expenses for the company, which has two facilities in Silvassa and two in Maharashtra, rose about 9 percent to Rs 447 crore.

Savita, whose key business segments are petroleum products and renewable energy, reported that total revenue from petroleum products increased 16 percent to Rs 479 crore. The company launched its Savsol brand of lubricants in 2007, has a network of over 30,000 retailers and 46 depots across India, according to its website.

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 485 crore in the fourth quarter, up 18 percent. Profit before tax jumped to Rs 44 crore from Rs 5.8 crore.

For fiscal year 2016-2017, Savitas net profit soared 159 percent to Rs 93.6 crore. Total annual revenue from operations inched up 1 percent to Rs 1,683 crore. The companys customers include BEML, BHEL, Tata, Siemens, Mahindra & Mahindra, TAFE, Maruti Suzuki and Hero MotoCorp, among others.

Panama Petrochem Ltd.

Panama Petrochem Ltd.s fourth-quarter net profit more than doubled, as the specialty petroleum products makers sales surged nearly 25 percent and finance costs declined.

The Mumbai-based company posted a consolidated net profit of Rs 12.6 crore in the January to March 2017 period, up from Rs 4.8 crore last year, the company said in its earnings report.

The maker of Panol-branded automotive oils said consolidated net sales jumped to Rs 220 crore from just under Rs 177 crore.

Panama Petrochem, which also makes transformer oils, industrial oils, greases and other specialty petroleum products, exports to North America, Europe, the Middle East, Australia, Africa and Southeast Asia. The company has four manufacturing units in India.

The firms total expenditure increased 19 percent to Rs 200 crore, but finance costs fell 6 percent to approximately Rs 2 crore.

For fiscal year 2016-2017, Panama Petrochem posted a net profit of Rs 43 crore, up 72 percent from Rs 25 crore. Annual net sales increased 11 percent to Rs 833.5 crore.

The companys consolidated numbers include the results of its wholly owned subsidiary, Panol Industries RMC FZE, which has a 30,000 metric tons per year manufacturing facility in Ras Al Khaimah, United Arab Emirates.

Continental Petroleums Ltd.

Indias Continental Petroleums Ltd., which sells Mobolene-branded lubricants and greases, reported a 91 percent jump in net profit, thanks to a larger sales volume.

The Jaipur-based company posted a standalone net profit of Rs 16.4 lakh (Rs 1.64 million or around U.S. $25,000) in the quarter ended March 31, compared to Rs 8.6 lakh in the corresponding quarter last year, according to a regulatory filing.

The lubricant maker reported that quarterly net sales rose 15 percent to Rs 5.4 crore from Rs 4.7 crore. Total income from operations jumped approximately 11 percent to Rs 6.3 crore. Expenses rose about 3 percent to Rs 5.7 crore.

For fiscal year 2016-2017, Continentals net sales fell about 3 percent to Rs 20 crore, while total income from operations declined 4 percent to Rs 22.9 crore. Annual net profit decreased nearly 7 percent to Rs 47.2 lakh.

Continental, which manufactures various kinds of lubricants and greases for automotive and industrial applications, sells its products in western, central and northern states of India through its distribution network. According to Continental, the companys 8,000 metric tons per year facility in Behror is the largest blending plant in Rajasthan.

Balmer Lawrie & Co.

Balmer Lawrie & Co., one of Indias largest grease suppliers, reported that its fourth-quarter operating profit from the greases and lubricants segment declined 20 percent annually, while net sales increased 12 percent.

The state-run enterprise said the segment posted a standalone profit of Rs 8.4 crore before tax and interest during the quarter, down from approximately Rs 10.6 crore.

Net sales for the segment increased to Rs 113.4 crore from Rs 101.4 crore during the same period of 2016, the Kolkata-based diversified company said in a statement about its financial results. The company supplies its Balmerol-branded products to the defense, railways, mining, steel, heavy engineering, power and automotive sectors. It has a network of more than 250 distributors and 4,500 dealers across the country.

For the full fiscal year, the companys greases and lubricants segment reported net sales of Rs 449 crore, up 7 percent from Rs 420 crore. However, the segments operating profit fell about 17 percent to Rs 31.8 crore.