Gulf Oil Lubricants India has announced that its net revenues for Q2FY23 stood at INR 719.50 crore and PAT of INR 52.14 crore.
The company’s net revenue in the same quarter last year was INR 533.52 crore, and PAT of INR 58.70 crore.
Meanwhile, for H1FY23, the company’s net revenue stood at INR 1425.95 crore and PAT of INR 107.47 crore as against net revenue of INR 950.89 crore and PAT of INR 89.05 crore in H1FY22, translating to a 50% and 21% YoY growth respectively.
Besides these financial updates, the company continues to invest in building its brand and driving CVPs (consumer value propositions) for its sub-brands in each segment.
Gulf Oil also launched offer a 1000-hour drain interval on its brand XHD Supreme+ in its product of 15W-40 viscosity grade during the last quarter.
Increased BTL campaigns and influencer and trade activations to increase distribution touch points and consumer usage to improve market shares were launched at the same time.
Ravi Chawla, Managing Director & CEO, Gulf Oil Lubricants India, said, “Looking ahead, I believe we can continue our high growth momentum further once there is stability from costs side, foreign exchange and inflation which will give tail wind to demand uptick.”
He added that the company will continue to focus on its margin management strategy based on the movements in key input costs, which may see some stability in coming quarters following crude with a time lag.
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