Castrol India Reports 7% Rise In Q1 Profit To Rs 216 Crore

Lubes maker Castrol India Limited on Tuesday said its profit after tax increased 7% year-on-year to Rs 216 crore in the January-March quarter of 2024.

The company had delivered a PAT of Rs 203 crore in the January-March period of 2023, Castrol India said in a statement.

The company follows the January-December year for financial reporting.

The company's revenue from operations during the quarter under review stood at Rs 1,325 crore, up 2% from Rs 1,294 crore in the first quarter of 2023, it said.

"While we experienced initial softness in consumer demand, we delivered a 2% revenue growth, demonstrating the effectiveness of our strategic approach," Castrol India said.

"Our strategic initiatives and resilient approach have positioned us well in navigating the dynamic market landscape. As we continue to focus on driving growth, we remain committed to prudent financial management and strategic investments to sustain our momentum in the quarters ahead," said Deepesh Baxi, Chief Financial Officer of Castrol India Limited.

"Throughout the year, expect a continuous stream of products across portfolios that solidify our position at the forefront," Castrol India MD, Sandeep Sangwan stated.