GP Petroleums Limited, on Friday declared results for the quarter ended September 2020. The PBT scaled to Rs. 9.8 Cr in Q2 FY20 compared to Rs. 4.5 Cr in Q2 FY2019, a growth of 116%. The revenue reported for the period grew by 6.7% to Rs. 176 Crores.
The company attributed the key reason of this strong delivery to its “Performance Culture” displayed by the employees and the de-risking progressed through business extensions during the most un-precedented Covid-19 times. The buoyant rural economy enabled bouncing back in Agri and motorcycle segment growth in tier 2-3 towns through virtual appointment of distributors.
The company is already No.1 private player in rubber process oils. The flagship brand IPOL has been providing bespoke lubricant solutions to the Industrial customers for past 47 years.
Mr Prashanth Achar, CEO GP Petroleums Limited said, “Since past 6 months we have been following the 4C framework of CARE, COMMUNICATION, CASH FLOW EFFICIENCY AND CUSTOMER CENTRICITY. Our employees are our biggest asset and their Care and Safety has been ensured through Connect programs online and offline. Robust bottom line performance can be attributed to efficiency and effectiveness programs rolled out over the last 6 months while the brilliant Cash flow management driven by our mantra “Tank to Bank Velocity” helped keep the business healthy. Customer Centricity is a habit for us and our teams were amongst the first in the industry to start virtual online trainings during the lockdown.”
About GP Petroleums Limited
GP Petroleums Limited, a major player in the lubricants industry, is a listed company in India and ranks among the top 1000 companies in terms of market capitalisation. GPPL an ISO 9001, ISO 14001 & OHSAS 18001 certified company, which specializes in formulating, manufacturing and marketing, of Industrial & Automotive lubricants, Process oils, Greases and other Specialties under the brand name IPOL which is a trusted brand since 1973. GPPL has invested in high precision quality-control and product development labs to meet global standards and OEM expectations. The company has a well-established network of Distributors and Dealers across the country. It has also signed an exclusive license agreement with Repsol SA, Spain to manufacture and market REPSOL brand of lubricants in India to cater to the premium lubricant segment.