Gulf Oil Lubricants Reports Robust Double-Digit Growth in Q1
Gulf Oil Lubricants, a Hinduja Group company, reported a 10% rise in standalone PAT for the June quarter, driven by strategic execution and notable improvements in gross margin. The company also approved a capex plan to enhance production capacity and saw impressive growth in its EV charger subsidiary, Tirex.
- Country:
- India
Gulf Oil Lubricants, a key player under the Hinduja Group, announced a significant 10% increase in standalone profit after tax (PAT), reaching Rs 96.66 crore for the June quarter.
The firm highlighted a corresponding revenue surge, climbing 13% over last year to Rs 996.36 crore. In a strategic move, the board sanctioned a Rs 55-crore investment to boost manufacturing capacity by 70% to 240 million litres.
Consolidated revenue also rose by 13.69% to Rs 1,016.45 crore, while the EV charger arm, Tirex, reported a staggering 163% growth in topline. Gulf Oil's leadership noted the performance was anchored in strong strategic execution and profit-driven growth.
(With inputs from agencies.)
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