Castrol India result: 4% increase PAT at Rs 194 crore
The end of last quarter (Q3) saw hardening crude prices, with global uncertainties, and inflationary pressures. The recent conflict in the Middle East has brought more challenges to crude price volatility. However, we remain poised to lead the way in setting industry trends, said Sandeep Sangwan, Managing Director, Castrol India.
Castrol India on Monday reported 4 per cent increase in profit after tax at Rs 194 crore for July-September period of 2023.
The company had delivered a PAT of Rs 187 crore in the year-ago period. Castrol India follows January-December for its financial reporting. Revenue from operations was Rs 1,121 crore as against Rs 1,183 crore in the same quarter last year, Castrol India said.
“The end of last quarter (Q3) saw hardening crude prices, with global uncertainties, and inflationary pressures. The recent conflict in the Middle East has brought more challenges to crude price volatility. However, we remain poised to lead the way in setting industry trends,” said Sandeep Sangwan, Managing Director, Castrol India.
He said that investing in the brand has held the company in good stead leading to 6 per cent revenue growth during the third quarter of 2023 and it continues to build its reach into rural India to tap into demand.
“We will continue to focus on strategic expansion in aftercare, electric vehicles and our industry partnerships for the service and maintenance of automobiles,” he added.
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