HYDERABAD: Gulf Oil Corporation Ltd on Thursday reported a 5% dip in its net profit at Rs 9.56 crore in the first quarter of 2013-14 as compared to Rs 10.07 crore in the first quarter of 2012-13. 

This dip in its profit was due to forex loss of Rs 8.65 crore, the company said. 

The company's income too dipped marginally in the quarter to Rs 226.94 crore as against Rs 227.05 crore in the year ago period. 

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