Gulf Oil Lubricants India Ltd has informed that the company's greenfield project coming up near Chennai is on schedule to start commercial production in Q2/Q3 of next fiscal.

The lubricants company in a statement to the BSE said the civil work for the project had begun, structural works for the pre-engineered buildings are in progress and ancillary building works will begin shortly.

The company had in the past indicated that the plant might see a capex of ₹100-150 crore.

The Hinduja Group company posted a profit of ₹30.2 crore for the second quarter ended September 30, 2016, against a profit of ₹23.6 crore, up 28 per cent, over the corresponding quarter last year.

The company achieved a gross turnover of ₹315 crore for the second quarter against ₹288.4 crore, up 9.2 per cent over the same period previous year.

In spite of the July-September quarter being seasonally a low offtake quarter due to the monsoons and reduced vehicle/equipment movements, the company announced all round volume gains across segments to notch up overall double digit volume growth during the quarter.

Synthetic products Apart from the company revamped product portfolio driving the way, the sale of synthetic products in personal mobility area has received a good response from the market.

Amidst weak sales of commercial vehicles in H1 resulting in lower first fill sales to OEMs, the diesel engine oil segment of the company has posted double digit growth.

While OEM dealership business across various product categories registered good growth, industrial distributors channel was expanded to grow faster in small and medium industries.

The Gulf brand continued on its journey investing in clutter breaking mediums to reach-out to its consumers.

This quarter the Gulf brand was associated with the Bollywood feature film MS Dhoni–The Untold Story.

Related Topics
comment COMMENT NOW