New Delhi, Nov 7 (UNI) Gulf Oil Lubricants India Limited (GOLIL), part of the Hinduja Group and Gulf Oil International, on Thursday reported 14.68 percent jump in net profit at Rs 84.44 crore y-o-y during second quarter (July-September) of the current financial year versus Rs 73.63 crore in the same quarter of last financial year that is 2023-24.
During the Quarter ended September 30, 2024, the company achieved revenue from operations of Rs 849.33 crore against Rs 802.30 crore, growth of 5.9 percent, the company said in a regulatory filing with the stock exchanges.
Commenting on the performance, Mr. Ravi Chawla, Managing Director & CEO, Gulf Oil Lubricants India Ltd., said, “Despite the operational impact of heavy rains in the beginning of Q2, overall demand for us remained healthy, driving-up our Q2 lubricant volume growth by 9 percent. This reinforces our unwavering commitment and reliable performance, even amid challenging conditions, positioning us well for continued 2-3x market growth.”
The quarter concluded on a high note with the launch of most ambitious brand campaign ever yet, “The Unstoppables”, he said, adding centered on the theme “Har Kadam Berok”, this cinematic ad campaign stars Gulf’s three brand ambassadors, MS Dhoni, Hardik Pandya and Smriti Mandhana exemplifying company’s brand’s values and capabilities on a grand scale across multiple media and marketing platforms.
Further, we uphold a positive demand outlook, confident in the medium- to long-term potential of India’s lubricants sector. Our growth momentum is sustained through strategic & impactful brand investments, enhanced product capabilities and industry leading initiatives driving-up profitable growth across our focus segments, he added.
Manish Gangwal, CFO, Gulf Oil Lubricants India Ltd commented “We had a good quarter in spite of the volatile market conditions with Q2 and H1 PAT growth at healthy 15 percent and 22 percent respectively on year-on-year basis. We focused on sustaining our margins, achieving an improvement in gross margin, resulting in an EBITDA of 12.62 percent of revenue, while investing in brand, digital and human resources to enhance long term endurance of the organization.
Our robust cash flow generation in H1 reflects our continued focus on working capital management and operational efficiencies.
“While monitoring the geopolitical landscape, we remain committed to refining our product mix, controlling costs, and enhancing profitability on a continuous basis for maximising shareholder value. Our mobility investments and initiatives are showing very good progress and early signs are quite encouraging to visualize this segment as a key contributor to company’s growth in medium to long-term,” he added.
