Castrol India: Higher base oil costs affect profitabilityCASTROLIND - 105 Change: 4.00 (3.95 %)
News: Castrol India's revenue increased 21.5% YoY to Rs.1073.2 crore in Q3CY21. EBITDA at Rs.262.5 crore was down 8.9% YoY while gross margin at Rs.532.2 crore was flattish YoY. PAT stood at Rs. 185.9 crore, down 9.1% YoY.
Views: While we await sales volume data, Castrol India's revenue increased YoY post price hikes in previous quarters. However, higher raw material prices affected operating performance. Maintaining balance between volume growth and margins will be important going ahead.