Castrol India logs 9% growth in PAT in June quarter

Mumbai: Lubes maker Castrol India on Monday reported a 9 per cent growth in profit after tax at Rs 225 crore in the June quarter.

The company had posted a profit after tax (PAT) of Rs 206 crore a year ago.

The revenue from operations during the second quarter of the current calendar year stood at 1,334 crore, compared to Rs 1,242 crore in the year-ago period, the company said in a statement.

Castrol India follows the January-December calendar year (CY) for its financial reporting.

“In the last quarter, we focused on achieving growth through increased volume. Despite challenges, we flourished, showcasing resilience and innovation in products and services,” said Sandeep Sangwan, managing director, Castrol India Limited.

During the quarter, Sangwan said, the company expanded its portfolio by entering the auto care range and launching new products, and tie-ups with some organisations strengthened the market position.

“Our success is attributed to a robust supply chain and customer-centric services. With confidence, we move ahead, expecting continued growth and impact till 2023-end,” he added.

“Despite anticipated challenges in the business environment, we will remain focused on achieving growth and expanding market share. This involves introducing new products and investing in strengthening our brand,” Sangwan said.

By the end of the first half of its calendar year, the company said it had established a network of over 5,500 Castrol bike points and 350 Castrol auto service outlets.

In the second half of CY23, Castrol India is looking to reinforce its position in the after-sales service market, it stated.