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business | IST

Gulf Oil Lubricants says there is strong improvement in demand

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In an interview with CNBC-TV18, Manish Gangwal, CFO of Gulf Oil Lubricants India said on Wednesday that there was an improvement in demand pick up on a month-on-month (MoM) basis.

In an interview with CNBC-TV18, Manish Gangwal, CFO of Gulf Oil Lubricants India said on Wednesday that there was an improvement in demand pick up on a month-on-month (MoM) basis.
He added that overall there were all-round revival of the demand across segments. “Everywhere we are seeing growth coming back in terms of overall demand conditions.”
The company has closed the September quarter with 7 percent volume growth over last year September on a year-on-year (YoY) basis. “That is a good rebound. Lubricant sector is an essential product, so as vehicles starts moving, commercial activities pick up, lubricants get consumed. So the revival is very swift and sharp,” he said.
“IPL has been a big success, that also helped us deliver highest retail sales for our secondary sales. So we are quite hopeful on the retail side as well, we will continue to pick up,” Gangwal said.
According to him, demand conditions in the industrial side is very good.
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