Castrol India Reports Marginal Growth in Q2 Profits

Castrol India Limited reported a 3% increase in its profit after tax for the June 2024 quarter, reaching Rs 232 crore, compared to Rs 225 crore the previous year. The company's revenue from operations grew by 5% to Rs 1,398 crores. Chief Financial Officer Deepesh Baxi highlighted the role of innovation and brand building in driving growth.

Castrol India Limited has posted a marginal 3 per cent growth in its profit after tax (PAT) for the June 2024 quarter, reaching Rs 232 crore. This figure was slightly higher than the Rs 225 crore reported for the same period in 2023.

The revenue from operations during this quarter saw a 5 per cent increase, rising to Rs 1,398 crores from Rs 1,334 crore in the corresponding quarter of the previous year, the company announced.

Chief Financial Officer Deepesh Baxi attributed the revenue growth to a balanced focus on volumes and margins, as well as a commitment to innovation and brand building. Baxi mentioned that ongoing innovations and strategic brand investments would help sustain growth momentum. He also indicated that the potential stabilization of input costs in the latter half of the year could be a positive sign for the industry.