Gulf Oil first quarter outcomes: Net revenue rises 29% to Rs 88.02 crore, income additionally rises

Gulf Oil Lubricants | Image: Wikimedia Commons

Gulf Oil Lubricants India mentioned Ebitda margin through the interval expanded 170 foundation factors to 13.13 per cent as towards 11.43 per cent within the earlier 12 months, inside the guided vary of 12-14 per cent, as the corporate elevated investments in model and customer-centric actions.

Manish Gangwal, CFO, Gulf Oil Lubricants India Ltd, mentioned, “Our first quarter efficiency displays our continued efforts in the direction of sustainable and worthwhile development. We have recorded {industry} main top-line and bottom-line development, with income rising by over 9 per cent year-on-year and PAT rising by 29 per cent within the first quarter. With an emphasis on premium merchandise throughout segments and efficient enter price administration, we achieved gross margin enchancment, leading to EBITDA development of 25 per cent to 13.13 per cent of income.”

Going ahead, regardless of world uncertainties, the corporate continues to give attention to margin administration via prudent price management and improved product/phase combine, which is able to improve profitability and maximize shareholder returns, he added.

The firm mentioned it maintained its development momentum, reaching a quarterly quantity development fee 2x larger than the {industry}, primarily pushed by development within the B2C channel, led by passenger automobile oils and agricultural merchandise, and robust double-digit development within the B2B industrial phase.

B2C distribution witnessed sturdy development through the quarter, leading to good development throughout each business and private mobility segments, whereas sure sectors comparable to infrastructure grew barely slower in Q1 as a result of challenges of the overall elections and summer time in elements of India.

Ravi Chawla, Managing Director and CEO, Gulf Oil Lubricants India Ltd. mentioned, “Our lubricants volumes have grown at 2x the {industry} fee and that is evident throughout key segments, with each B2C and Industrial segments performing properly. Looking forward, we purpose to drive industry-leading quantity and income development, commit extra assets to put money into our manufacturers and give attention to premiumisation.”

Chawla mentioned the corporate is assured of the medium to long run potential of the Indian lubricants sector and with its sturdy model, execution capabilities, extensive distribution community and robust relationships with its OEM companions and B2B clients, “we’re properly positioned to capitalise on the {industry} alternatives.”

“We are additionally dedicated to leveraging the alternatives throughout the EV worth chain with our strategic investments within the e-mobility sector to drive vital development over the following 4-5 years,” Chawla added.

first printed: August 06, 2024 | 10:58 PM First