Gulf Oil Lubricants Limited has posted a profit of ₹40.3 crore for the first quarter ended June 30, 2018 as against a profit of ₹34.29 crore in the comparable quarter previously, registering 17 per cent growth.

The Hinduja Group company net revenues for the first quarter was ₹390.36 crore, up 39 per cent (₹280.05 crore).

Ravi Chawla, Managing Director of Gulf Oil said, “The market demand conditions have been good and this momentum coupled with our various initiatives around distribution, brand building and new customer acquisition have helped us grow volumes cross all our focus segments.” We continue to grow our market share and consolidate our position as the fastest growing lubricants company in the country with 3-4 times industry growth.”