Castrol India Q1 results announced; profit rises 7% to ₹216 cr in Jan-Mar - Hindustan Times
close_game
close_game

Castrol India Q1 results announced; profit rises 7% to 216 cr in Jan-Mar

PTI |
May 02, 2024 03:00 PM IST

Castrol India has revealed that its profit after tax (PAT) has risen 7 per cent year-on-year to ₹216 cr.

The quarterly results season announcements have acquired a huge momentum with as many as 56 companies reporting their Q4 performances today. Among them are Indian Oil, Indus Towers, Havells, Exide Industries, Adani Total Gas, Indian Oil Corporation, Newgen Software, REC and many others. And now lubricants solution provider Castrol India Limited has revealed its own performance numbers for the fourth quarter today during the after-market hours. Castrol India has revealed that its profit after tax (PAT) has risen 7 per cent year-on-year to 216 cr. This was for the January-March quarter of 2024. Castrol says that it had delivered a profit after tax (PAT) of 203 cr in the January-March period of 2023.

Castrol India has revealed that its profit after tax (PAT) has risen 7 per cent year-on-year to <span class='webrupee'>₹</span>216 cr.(Representational)
Castrol India has revealed that its profit after tax (PAT) has risen 7 per cent year-on-year to 216 cr.(Representational)

Read More: Q4 results today: Exide, Castrol to Indian Oil, 56 companies to report earnings

Castrol India said revenue from operations in Q4 came in at 1,325 cr, which was marginally up (2 per cent) from 1,294 crore in the first quarter of 2023.

Castrol indicated that despite encountering a slight dip in consumer demand initially, it still managed to achieve an increase in revenue. In its statement, Castrol India said, “While we experienced initial softness in consumer demand, we delivered a 2% revenue growth, demonstrating the effectiveness of our strategic approach.”

Read More: Wipro's Srinivas Pallia is second-highest paid CEO in industry. His salary is…

Deepesh Baxi, Chief Financial Officer of Castrol India Limited said, “Our strategic initiatives and resilient approach have positioned us well in navigating the dynamic market landscape.”

As far as the future is concerned, he added, “As we continue to focus on driving growth, we remain committed to prudent financial management and strategic investments to sustain our momentum in the quarters ahead.”

On his part, Castrol India MD, Sandeep Sangwan said, “Throughout the year, expect a continuous stream of products across portfolios that solidify our position at the forefront.”

Read More: Elon Musk's China visit just helped his net worth rise the most since March 2022

Notably, Castrol India follows the January-December year for financial reporting rather than the April-March one that most other companies do.

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

See more

Catch every big news on Union Budget 2024, Nirmala Sitharaman's announcements, income tax changes and much more on a one stop destination.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Sunday, July 21, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On