Gulf Oil: Q1 PAT Up 10% to Rs 96.6 Cr

Mumbai, Aug 14 (PTI) Lubes maker Gulf Oil Lubricants on Thursday reported a 10 per cent growth in standalone profit after tax (PAT) to Rs 96.66 crore during the June quarter.

The Hinduja Group firm had posted a standalone PAT of Rs 88.02 crore in the first quarter of last year.

Revenue from operations during the quarter under review was Rs 996.36 crore, 13 per cent up from Rs 885.07 crore in the year-ago period, it said.

The company further said its board has approved Rs 55-crore capex plan for enhancing manufacturing capacity by 70 per cent to 240 million litres.

On a consolidated basis, the company said it achieved revenue from operations of Rs 1,016.45 crore against Rs 894.04 crore, registering a growth of 13.69 per cent and PAT of Rs 95.17 crore, up 13 per cent from Rs 84.3 crore in Q1 FY25.

"Our consolidated revenue has crossed Rs 1,000 crore as we concluded the quarter with highest-ever volume, revenue, and EBITDA, driven by strong strategic execution resulting in profitable, volume-led growth.

"With double-digit topline growth and notable improvement in gross margin, operating profit for the quarter stood at Rs 126.58 crore, growth of 8.9 per cent over the same period last year with slight impact in EBITDA margin at 12.7 per cent while remaining within the guided band of 12-14 per cent in the volatile macro environment as we also continue to invest in brand and other long-term initiatives," said Manish Gangwal, CFO, Gulf Oil Lubricants India Ltd said.

As the year progresses, the company remains watchful of the geo-political developments and remains committed to delivering consistent growth in its core business while also growing its mobility segment, which is yielding very encouraging results, he said.

"The year began on a strong note, delivering yet another market leading performance achieving double-digit volume growth of 11 per cent during the quarter, clearly over 3x the industry growth rate. This performance was driven by gains across segments, with motorcycle Oil (MCO) category in B2C segment leading the way with strong double-digit growth," Ravi Chawla, Managing Director and CEO, Gulf Oil Lubricants India Ltd, said.

"Our EV charger subsidiary, Tirex, continued to perform well and closed the quarter with over 163 per cent growth in topline catering to a broader customer base. This reflects our ongoing commitment to strengthening the EV segment in line with our long-term vision," he said.