Companies

Gulf Oil Q4 net up 38%; board proposes Rs 4/share dividend

Our Bureau Mumbai | Updated on January 20, 2018

Gulf Oil Lubricants India Ltd, a Hinduja Group Company, has reported a 38 per cent rise in net profit at Rs 30.04 crore in the March 2016 quarter. Net profit for the year stood at Rs 100.31 crore, up nearly 30 per cent year-on-year.

The company’s board of directors has recommended a dividend of Rs 4 a share.

Fourth quarter EBIDTA also grew 27.1 per cent, while margins expanded further to approximately 16.8 per cent, which is 80 bps sequential improvement and approximately 320 bps improvement YoY.

In a press statement to the exchanges, the company said it has recorded a double-digit volume growth in motorcycle oils, key OEM volumes and sales to direct customers in infrastructure and industrial segments.

Added to this, an institutional order also enabled the company to clock an overall double digit-growth in volumes. There is also positive growth in diesel engine oil segment for the company.

The company has gained further market share in MCO (2-wheeler) segment achieving double digit-growth during the year, which is more than 2 times the market growth, aided by a TV campaign to promote the consumer proposition of ‘Insta Pick-Up’.

Earlier in the year, the company also launched Gulf Pride Scooter oil catering to the rising sales of scooters in the market. The company's investments were backed with a 360 degree campaign, including a social media campaign, consumer and trade promotions.

Published on May 12, 2016

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