Tide Water Oil Co.
Lubricants maker Tide Water Oil Co. (India) Ltd. reported second-quarter net profit of Rs 29.8 crore (Rs 298.4 million or U.S. $4.2 million), up 20.2 percent from Rs 24.8 crore in the year-earlier period. However, revenue from operations for the quarter declined 1.3 percent to Rs 280.2 crore.
In interim financial statements released to the Bombay Stock Exchange for the April-September 2019 period, the company reported an increase in net profit year-on-year to Rs 51.5 crore, up almost 7 percent from Rs 48.2 crore. The company also reported a 4 percent rise in total revenues to Rs 575.9 crore, up from Rs 573.6 crore.
MJL Bangladesh Ltd.
According to an earnings statement released to the Dhaka Stock Exchange, Dhaka-based MJL Bangladesh Ltd.s net profit for the three months ending Sept. 30 reached 521.6 million takas (U.S. $6.2 million), up 20.7 percent from 432.1 million takas in the year-earlier period. However net revenue declined to 4.9 billion, down 2 percent from 5 billion taka.
MJL Bangladesh Ltd. is a joint venture between state-owned Jamuna Oil Co. and EC Securities Ltd. It supplies ExxonMobils Mobil brand of lubricants and its Omera Lubricants.