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Business EconomyPosted at: Aug 7 2024 3:21PM


Gulf Oil Lubricants net up 29 pc at Rs 88 crore in Q1

New Delhi, Aug 7 (UNI) Gulf Oil Lubricants India Limited (GOLIL), part of the Hinduja Group and Gulf Oil International, on Wednesday announced 29 percent jump in net profit at Rs 88.02 crore year-on-year basis in Q1 (April-June) of fiscal 2024-25 as against Rs 68.30 crore in the same period of last financial year.
During the Quarter ended June 30, 2024, the Company achieved revenue from operations of Rs. 885.07 crores against Rs. 811.71 crores, growth of 9.04 percent, the company said in a release.
Commenting on the performance, Mr. Ravi Chawla, Managing Director & CEO, Gulf Oil Lubricants India Ltd., said, “Our lubricants volume grew 2x the industry rate and it was evident across major segments, with the B2C and Industrial segment both doing well.”
This highlights company’s relentless efforts and reliable performance, setting industry benchmarks.
“We continue leveraging our strong brand association with CSK attracting enhanced brand visibility during IPL seasons. This season we launched a major campaign with CSK where innovatively CSK fans made ads instead of players and it garnered great response across India,” he added.
By leveraging company’s association with brand ambassadors Mahendra Singh Dhoni, Hardik Pandya and Smriti Mandhana, the company increased its brand-building efforts through impactful campaigns across segments enhancing brand consideration and adopting a customer-centric approach, the company said.
Gulf Oil’s flagship SUV brand, “Formula SUV,” executed a successful campaign this quarter featuring Hardik Pandya, achieving 123 million digital impressions and reaching 38 million users. The campaign featured OOH advertising, print ads in top publications, radio presence, and Brand Free Commercial Times (FCTs) on leading channels, the release said.
It also launched Gulf Superfleet Supreme to further strengthen its share in the commercial vehicle segment. This BS-6 range includes products for MHCVs, micro-LCVs, and CNG-powered trucks, featuring industry-first offerings like multi-fuel suitability and the optimized oil-drain interval, it added.
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