Gulf Oil Lubricants India Reports Strong Profits


Gulf Oil Lubricants India Ltd., a Hinduja Group company, enjoyed significant increases in net profit for both its fourth quarter, and its full fiscal year, the company reported late last week.

The Mumbai-based company saw a 32.5 percent increase in net profit to Rs 41.4 crore (Rs 414 million or U.S. $6 million) for the quarter ending March 31. For its full fiscal year, Gulf Oil Lubricants India posted a net profit of Rs 158.56 crore, up 34.9 percent from Rs 117.56 crore for the year-earlier period.

Total income for the quarter jumped to Rs 380.4 crore from Rs 339 crore during the same period last year. Full-year total income for the company increased in total income to Rs 1,404.53 crore from the previous years Rs 1,280.11 crore.

Net revenue for the fourth quarter stood at Rs 373.31 crore, a strong 30.7 percent increase from last years fourth quarter. The company posted a net revenue of Rs 1,378.4 crore, up from Rs 1,259.8 crore last year.

It has been a year of record-growths for us across all our focus segments. Our market share has increased, and we have consolidated our position as the fastest growing lubricants company in India, said Ravi Chawla, managing director of Gulf Oil Lubricants India.

The company [sales] volumes compound annual growth rate is more than three times that of the industry estimates. The market demand conditions are also picking up, and we are confident of leveraging this added momentum and Gulf’s increasing consumer pull for our brands, he added.

Gulf Oil Lubricants Indias core business reported a roughly 14 percent volume growth during the full year, with the passenger car motor oil and motorcycle/two wheeler oils segment enjoying the strongest growth.

Growth momentum continued in the overall OEM businesses and dealerships across various product categories including CV, two-wheeler and tractor OEM dealerships. Gulf Unnati, the retailer loyalty program, gained traction among top retail partners as they showed double-digit growth this quarter, Chawla stated.

Chawla also noted that the companys Chennai plant started commercial production on Dec. 14, 2017, and production from this plant is ramping up.

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