Castrol India, a leading engine oil manufacturer, reported a 6.5% increase in net profit for the January-March quarter compared to the same period last year. The company's profit after tax rose to Rs 216 crore, up from Rs 203 crore in the previous year's corresponding quarter.
The company, which follows a January-December financial year format, saw its revenue from operations for the quarter increase marginally to Rs 1,325 crore. This represents a 2.3% increase compared to the 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. He attributed the growth to the successful launch of innovative products last quarter, which significantly expanded the company's market share across segments.
Sangwan also highlighted the company's ongoing initiatives, including campaigns like #BadhteRahoAage and Castrol CRB TURBOMAX Pragati Ki Paathshaala, which are gaining traction and are expected 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.
Deepesh Baxi, Chief Financial Officer of the company, stated that Castrol India is focusing on strengthening its presence in rural markets. This, coupled with an innovative product pipeline, is expected to help the company deliver sustainable growth and lasting value.