Leading engine oil maker Castrol India Today reported a 6.5% year-on-year rise in its net profit for the January-March quarter. The company’s profit after tax rose to Rs 216 crore – up from Rs 203 crore in the corresponding quarter previous year.
The company that follows a January-December financial year format, witnessed its revenue from operations for the quarter inch up marginally to Rs 1,325 crore. It was 2.3% higher than its Rs 1,294 crore operating revenue in the same quarter last year.
“While we experienced initial softness in consumer demand, we delivered a 2% revenue growth, demonstrating the effectiveness of our strategic approach and the resilience of the Castrol brand,” said Sandeep Sangwan, Managing Director of Castrol India Limited. According to him, its successful launch of innovative products last quarter significantly expanded the market share for the company across segments. “Our ongoing initiatives, including campaigns like #BadhteRahoAage and Castrol CRB TURBOMAX Pragati Ki Paathshaala, are gaining traction and set to propel further momentum. These efforts are fueled by our unwavering commitment to brand building and cutting-edge innovation. Reaching over 12,000 truck drivers nationwide through Pragati Ki Paathshaala exemplifies the impact of our programs,” he added.
According to Deepesh Baxi, Chief Financial Officer of the company, Castrol India is focusing on strengthening its presence in rural markets, which coupled with innovative product pipeline will help it deliver “sustainable growth and lasting value”.
