Media H1 Profit up by 3.3 times
H1 Profit up by 3.3 times
29 Oct 2009
Gulf Oil H1 Turnover up 6%, PAT up 3.3 times
Mumbai, October 29th, 2009:
Gulf Oil Corporation, a Hinduja Group Company, has
reported Profit Before Tax for Q2 was Rs.13.34 crores as against negative of Rs.1.70
crores in the corresponding quarter last year. Profit after tax was Rs.12.28 crores
( Previous year Q2: Rs.0.98 crores negative).
For H1, the Company turnover was Rs.509 cr (Previous year H1: Rs.481 cr ) and Profit
after Tax improved significantly by 3.3 times to Rs.33.24 cr (Previous year: H1: Rs.7.67
Division wise performance and highlights considering the effect of the monsoons in the
quarter on our 3 businesses are as under:
During the quarter, the Lubricants Division achieved a gross turnover of Rs. 106.69 crores
was marginally lower than the corresponding quarter of the previous year. The gross
contribution was, however higher due to lower interest costs and reduced foreign
The overall economic scenario in the recent months has improved, however the
commercial vehicle sector, where Gulf Lubricants have a stronger presence, is picking up
at a slower pace. The drop in revenue was mainly due to this impact.
The Division has retained it’s share in the marketplace and improved sales in segments
like PCMO – where a slew of new products have been launched. The newly launched
Gulf Max range of car lubricants for passenger cars, which have been introduced from
Gulf Oil’s international range of products, has received an encouraging response from the
market. The USP of this range - MX4 technology that delivers superior benefits to the
consumers has positively impacted the acceptance of these new products amongst users &
influencers. The division continued its focus on the Bazaar market by launching
customised promotions, special product-packs catering to the agricultural segment, adding
new fleet customers & focussing on promoting sales of new products/skus.
Further, by continuing the customer and trade campaigns in 2-wheeler segment, the 4T
sales volume grew well during the quarter in line with the growth of 2-wheeler industry.
The Division is continuing sponsorship of Motor sports in 2 Wheelers through National
Dirt track championship to promote Brand in 2W segment.
The Explosives Division during the quarter, achieved revenue of Rs. 70.55 crores – a
growth of 20% over corresponding quarter of last year. Significant contributions were
from higher sales to Coal India Limited and continued focus on Value added products and
International Markets. Milder monsoon this year has also contributed to higher use of
On a half year level the Revenue has grown 23% YOY to Rs. 138.20 crores.
MINING AND INFRASTRUCTURE DIVISION (IDLconsult DIVISION)
The Mining and Infrastructure Division achieved revenue of Rs. 51.46 crores growth of
7% over corresponding quarter of Replica Breitling Bentley last year supported by expansion of activities in Iron
ore mining areas.
On a half year level the Revenue has grown 11.5 % YOY to Rs. 105.66 Crores.
The Division has a Order book of about Rs. 450 Crores and is in the final stages of
discussion for several new projects.
Development work on the Hyderabad property has commenced based on a major 100 ft.
road being developed by GHMC through the replica watches property. This road would shorten the travel
time between Kukatpally and Hi-tech City considerably. Replica Rolex Yachtmaster
For further information please visit www.gulfoilcorp.com or contact:
Mr. R. Varadarajan, Vice President, Lubricants Division, GULF OIL
Corporation Ltd., at 022-28248240, 56989900, Mobile : 9819338850
Mr. Jayaram Ramanathan, Vice President (Corporate Communications &
PR), Hinduja Group at 022-28248359 – Extn. 232, Mobile : 9867212997
Ms.Devdatta Mulchandani – Clea Public Relations, Mobile : 9444076909
Mrs. R. Chaudhry, Executive Secretary to MD, Gulf Oil Corporation Limited,
Hyderabad at 040-23700750, Mobile : 9849052064