Gulf Oil gains after Q4 PAT rises 6% YoY to Rs 63 cr

23 May 2022 , 12:18 PM

Standalone profit before tax (PBT) was up by 6.6% to Rs 86.14 crore in Q4 FY22 as against Rs 80.81 crore in Q4 FY21. Total expenses spiked 25.2% year on year to Rs 549.84 crore in Q4 FY22. The Hinduja Group company said that all the segments of business have done well and demand conditions have picked up. Diesel engine oils for commercial vehicles and passenger car motor oils saw very good volume growth, as the company has increased market share in both B2C and B2B segments. EBITDA in Q4 FY22 jumped 14.1% to Rs 89.09 crore from Rs 78.10 crore in Q4 FY21. EBITDA margin stood at 13.94% in Q4 FY22 as against 15.09% in Q4 FY21. On full year basis, the company reported 5.5% rise in net profit to Rs 211.08 crore on a 32.6% increase in net sales to Rs 2,191.64 crore in the financial year ended 31 March 2022 over the financial year ended 31 March 2021. Commenting on the performance, Ravi Chawla, managing director & CEO of Gulf Oil Lubricants India said, ?I am delighted by the all-round performance in Quarter 4 by the team to deliver highest quarter on all parameters like Volumes, revenues, EBITDA and PBT. This performance in the given environment of significant external challenges in the form of rising input costs, supply chain disturbances and unabated inflationary cycle, speaks well of the strength of our robust business model and strategies, our brand equity and determination of our team. Despite inflation mainly linked to recent crude related spikes, causing short term pressures, the company said it has the ability and is taking timely price interventions to manage margins. Due to the continuously upward trend in input cost, margin management will continue remain key focus area. The board recommended a dividend of Rs 5 per equity share for the financial year ended 31 March 2022. Gulf Oil Lubricants India, part of Hinduja Group, is an established player in Indian lubricant market. It markets a wide range of automotive and industrial lubricants, greases, 2-wheeler batteries, etc. Powered by Capital Market – Live News