Castrol India Ltd.
Q2FY23 Quarterly Result Announced for Castrol India Ltd.
Castrol India announced Q2FY23 results:
- For the nine months (9M):
- In Q2FY23 the Company registered Revenue from Operations of Rs.3,598 crore, achieving a growth of 16% compared to Rs.3,102 crore in 9M 2021.
- Profit Before Tax (PAT) for the period stood at Rs.845 crore, marking a growth of 9% from Rs.772 crore in 9M 2021.
- For the third quarter (3Q):
- In Q2FY23, the Company registered Revenue from Operations of Rs.1,121 crore, achieving a growth of 4% compared to Rs.1,073 crore in 3Q 2021.
- Profit Before Tax (PAT) for the quarter stood at Rs.254 crore, marking a growth of 2% from Rs.250 crore in 3Q 2021.
Commenting on the quarterly results, Sandeep Sangwan, Managing Director, Castrol India Limited, said, “The third quarter witnessed forex pressures along with extreme inflationary pressures arising from volatile crude oil prices, leading to rising costs of additives and base oil. To safeguard our margins and deliver bottom-line growth, we employed rigorous pricing and cost management. We continued to strengthen our service & maintenance network across India with the addition of new Castrol Auto Service centres and Castrol Express Oil change outlets.”
Sharing a future outlook, Sandeep Sangwan added, “Our key focus is to drive growth for Castrol and protect our profitability. An integral element of our future-ready strategy is our foray into the automotive aftercare market and into service & maintenance. In addition to our current alliances, we are also exploring further collaborations with electric vehicle OEMs to help advance electric mobility in India and support mechanics to get EV-ready.”
Result PDF