Profits Up for Gulf, Apar; Down for Savita BY K. VENKATESHWAR RAO

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Profits Up for Gulf, Apar; Down for Savita

BY K. VENKATESHWAR RAO
Gulf Oil Lubricants India Ltd. and Apar Industries each reported healthy increases in profit for their fourth quarter, due to a jump in sales. Meanwhile, Savita Oil Technologies Ltd. reported a decline in net profit but an increase in total revenues.
Gulf Oil Lubricants
Gulf Oil Lubricants India Ltd., a Hinduja Group company, reported a net profit of Rs 47.6 crore (Rs 475.7 million or U.S. $6.9 million) for the three months ended March 31, up 15 percent from the year-earlier period. For the full fiscal year, Mumbai-based Gulf Oil Lubricants India reported a net profit of Rs 177.78 crore up 12.12 percent from the same period of 2017-2018.
Total income for the quarter jumped almost 17 percent to Rs 445 crore from Rs 380.4 crore during the same period last year. Full-year total income for the company increased to Rs 1,735.34 crore, up almost 24 percent from the previous year’s Rs 1,404.53 crore.
Net revenue for the fourth quarter reached Rs 436.2 crore, up almost 17 percent from last year’s net revenue of Rs 373.31 crore. The company posted a net revenue of Rs 1,705.8 crore for the full year, up nearly 24 percent from Rs 1,378.4 crore last year.
Ravi Chawla, managing director of Gulf Oil Lubricants India, said that amidst significant volatility in crude prices and foreign exchange, the fiscal year was an outstanding year for the company, which achieved more than 18 percent volume growth in its core sales.
Chawla said Gulf is set to take on the near term challenges of slower auto industry growth and crude volatility. “We will continue to drive stronger distribution reach initiatives and leverage our brand investment further to deliver sustainable growth with good margins,” said Chawla. He pointed out that Gulf's influencer marketing campaign in the passenger car motor oils segment in select, focused cities yielded rich dividends, as PCMO sales grew well.
Apar Industries
Indian transformer oil supplier Apar reported a net profit of Rs 48.88 crore for the three months ended March 31, up 37.5 percent from Rs 35.55 crore of the same period last year. For the full fiscal year the company reported a net profit of Rs 147.1 crore, up 2 percent from Rs 144.1 crore last year.
Revenues from its transformer and specialty oil segment grew to Rs 604.48 crore in the three months ended March 31, 2019, up 30 percent from Rs 464.97 crore of the same period last year. For the full fiscal year the transformer and specialty oil segment’s revenue reached Rs 2247.62 crore, up almost 21 percent from Rs 1,864.22 crore in the same period last year.
Savita Oil
Mumbai-based Savita Oil – a supplier of transformer oils, white oils, lubricants and other products – reported a net profit of Rs 33.37 crore for its fourth quarter, down more than 17 percent from Rs 40.27 crore in the same quarter last year. For the full fiscal year, the company reported a net profit of Rs 114.27 crore, down 9.5 percent from Rs 126.2 crore last year.
Total revenue for the company’s fourth quarter reached Rs 557.54 crore, up 20.5 percent from Rs 462.70 crore. For the full year, the company reported total revenue of Rs 2,280.92 crore, up 24.4 percent from Rs 1,834.18 crore last year.
Revenue from petroleum products rose to Rs 551.63 crores in the fourth quarter, up almost 21 percent from Rs 456.41 crore. For the full year, revenue from petroleum products rose to Rs 2,236.21 crore, up nearly 25 percent from Rs 1,790.25 last year.

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