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Gulf Oil has multiple interaction points to the potentially rising EV-driven demand. The company has a product line-up of EV fluids and acquired two EV technology companies
We look at growing 10-12 percent in terms of volumes, Ravi Chawla, MD of Gulf Oil Lubricants India said.
Rajiv Chawla, MD, Gulf Oil Lubricants India said it was a record quarter for the company in terms of volumes and profits despite GST impact.
In an interview to CNBC-TV18, Ravi Chawla, MD of Gulf Oil Lubricants India spoke about the results and his outlook for the company.
Net Sales are expected to decrease by 0.1 percent Q-o-Q (up 0.2 percent Y-o-Y) to Rs 260 crore, according to HDFC Securities.
In an interview with CNBC-TV18, Ravi Chawla, MD of Gulf Oil said that volume growth has been strong across all segments and the second quarter has seen a volume growth of 10 percent.
Besides the motorcycle oil segment, the company also saw demand from the car, commercial vehicles and industrial infrastructure segments, said Ravi Chawla, MD, Gulf Oil Lubricants.
In Q2, the company saw strong volume growth of 6 percent and a 4 percent total income growth to Rs 249 crore.
Gulf Oil Lubricants India posted a profit after tax (PAT) of Rs 19.40 crore and gross turnover of Rs 284 crore for Q2.