Castrol India on Monday posted profit for the quarter ended September 2023 at Rs 194.42 crore, up 3.9 per cent in comparison to Rs 187.17 crore during the same period last year. It posted revenue from operations at Rs 1182.92 crore, up 5.5 per cent as against Rs 1121.07 crore during the third quarter of FY23. The company EBITDA stood at Rs 268.6 crore, up 4.4 per cent on-year. EBITDA margin, meanwhile, was at 22.7 per cent versus 22.9 per cent last year. The company follows the calendar year (January to December) for its financial reporting.
The numbers have ensured the company clocked a strong performance for the nine months (9M) ended 30 September 2023. The 9M Revenue from Operations was Rs 3,811 crore, clocking a 6 per cent growth compared to Rs 3,598 crore in 9M 2022. Profit Before Tax for the period stood at Rs 857 crore, marking a growth of 1 per cent from Rs 845 crore in 9M 2022.
“Investing in our brand has held us in good stead leading to a 6 per cent revenue growth. Our new #BadhteRahoAagey campaign is a testament to our commitment towards our consumers. The next leg of this campaign will be an extensive on-ground activation specifically tailored to support truckers in their pursuit of progress. We continue to build our reach into rural India to tap into demand,” said Sandeep Sangwan, Managing Director, Castrol India Limited.
Sharing an outlook for the year ahead, Sandeep Sangwan 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, ensuring that Castrol continues to be a name synonymous with quality and reliability. We will continue to focus on strategic expansion in aftercare, electric vehicles and our industry partnerships for the service and maintenance of automobiles.”
In terms of new launches, Castrol India launched an autocare range gaining good traction and acceptance by trade. “The entire range of products is now available in over 18,000 outlets and e-commerce platforms across India. Further, Castrol Magnatec 5W30 SUV continues to do well catering to high performance demands in SUVs, which accounts for 50 per cent of personal mobility four-wheeler space,” the company said.
Castrol India now has expanded its footprint to 1200 multi-brand passenger car workshops, over 5500 bike points and 47 Castrol Express oil change outlets at Jio-bp sites.