Gulf Oil Lubricants posts Rs 23.6 cr profit in Q2

Our Bureau Hyderabad | Updated on January 22, 2018

Gulf Oil Lubricants India Limited has posted a net profit of Rs 23.6 crore for the second quarter ended September 30, 2015 as against a profit of Rs 19.4 crore for the corresponding quarter last year, thereby registering a growth of 21.6 per cent.

The company sales during the second quarter was up at Rs 288.4 crore as against Rs 280 crore for the same period last fiscal, registering a growth of 3 pr cent.

Continuing Gulf Oil’s global motorsports heritage, in India, the company has tied up with Volkswagen racing for the VW Vento Cup 2015. The event was conducted at race tracks in Coimbatore and in the largest passenger car market of NCR at BIC Noida.

In the fast growing personal mobility segment, the brand continued to strengthen with growth in overall retail distribution numbers and sales of new products for scooters. Motorcycle oil volumes sales are growing at 2-3 X as of September 2015.

In a statement, the company stated that it has been focussing on growing the scooter lubricant category and achieved product placement at more than 10 per cent of its retail base in addition to the excusive service points, Bike Shop.

Gulf Oil continued its ad blitz that started in June 2015 targeted at the two-wheeler segment consumers to communicate the benefits by featuring the brand ambassador MS Dhoni and other actors.

The company stated that strong volume growth performance by the company in business to business, original equipment manufacture factory fill, infrastructure and industrial segment was achieved during the quarter.

Published on November 01, 2015

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