Gulf Oil Q2 net up 23.6% to Rs 30.2 crore

Hinduja Group firm Gulf Oil Lubricants today reported a 28 per cent increase in net profit for the quarter ended September 30 to Rs 30.2 crore against Rs 23.6 crore in the corresponding period year-ago.
Total sales during the July-September quarter increased 9.2 per cent to Rs 315 crore from Rs 288.4 crore in the corresponding quarter of FY2015-16.
"In spite of July-September quarter being seasonally a low offtake quarter due to the monsoons and reduced vehicle and equipment movements, the company achieved all-round volume gains across segments to notch up overall double digit volume growth during the quarter," Gulf Oil said in a statement issued here.

The company further said that its good growth was seen in all OEM dealership businesses across various product categories.
"Industrial distributors channel was expanded to grow faster in small and medium industries. B2B volume gains continued at a faster pace than overall company volume growth," it said.