Castrol India's Profit Boost in Challenging Times

Castrol India reported an 8% increase in profit for Q1. The profit after tax reached Rs 233 crore. Revenue grew 7% year-on-year. The company focuses on product innovation and market penetration despite macroeconomic challenges. The relaunch of Castrol Activ boosted growth.

Castrol India has reported a robust start to the financial year, declaring an 8% rise in profit after tax (PAT), which amounted to Rs 233 crore in the March quarter. This increase compares to Rs 216 crore in the same period last year.

For the quarter, revenue from operations climbed to Rs 1,422 crore, marking a 7% increase from Rs 1,325 crore in the corresponding quarter of the previous year. The company adheres to a calendar year for financial reporting.

Managing Director Kedar Lele emphasized the contributions of product innovation, portfolio expansion, and market penetration to this growth. The relaunch of Castrol Activ and focus on rural markets were significant growth drivers, despite challenges like rising input costs and forex volatility.

(With inputs from agencies.)