Gulf Oil Lubricants India Limited has posted a net profit of Rs 20.5 crore for the first quarter ended June 30, 2015 as against a net profit of Rs 18.02 crore for the corresponding quarter last year.
The Hinduja Group Company logged a gross turnover of Rs 265.65 crore for the first quarter as against Rs 260.75 crore for the corresponding period last year.
While there has been growth in volumes and revenues, the recent price discounting to adjust to the competitive market scenario has resulted in lower growth in revenues this quarter.
The company grew volumes in the Channel and key B2B segments in Q1 and continued its brand visibility/product activations during Indian Premier League 2015 through its association with the Chennai Super Kings (CSK).
This year, the championing product was the Gulf Pride Scooter which was launched during the IPL by the CSK team in Ahmedabad. Gulf Pride Scooter 10W-30 was also the centrepiece of all communications during the IPL, supported in outdoor and single screen cinemas in key markets.
The new TV commercial starring company's brand ambassador MS Dhoni ran across all major media channels in the month of June-July. This campaign also had a digital and outdoor presence that was well received and resulted in an instant double digit growth for the company in this segment.