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Gulf Oil Lubricants India Limited has posted a profit after tax of Rs 18.2 crore and a gross turnover of Rs 276 crore for the third quarter ended December 31, 2014.
The Hinduja group company clocked a turnover of Rs 825.5 crore and a net profit of Rs 55.6 crore for the nine months period ended December 2014.
The company is the demerged Lubricants entity of the Gulf Oil Corporation Limited, which has been functioning as a separate entity from April 1, 2014, thereby reporting its third quarter independently.
According to the company, it has managed to gain in the tractor segment with the sales of Gulf branded lubricants picking up and also due to further penetration of the range of new products launched during the first half of the year in tie up with Mahindra for the tractor segment.
Gulf Oil said that it has begun to see some improvements in the commercial vehicle segment and achieved growth by acquiring new infrastructure and direct supply accounts.
GOLIL is also extending its presence in rural hinterland as semi urban and rural markets. Select consumer offers were also announced for diesel engine oil packs, which met with positive response.
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