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Castrol India Q3 net profit surges over three-folds to Rs 569 crore

Revenue from operations rose to Rs 3,101.5 crore as against Rs 1,073.2 crore in the year-ago period, Castrol India said in a statement.

October 29, 2021 / 09:55 PM IST
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Lubes maker Castrol India on Friday reported an over three-fold increase in profit after tax (PAT) at Rs 569.5 crore for the third quarter ended September 30, riding on the back of robust sales.

The company had reported a net profit of Rs 185.9 crore in the July-September quarter of previous fiscal.

Revenue from operations rose to Rs 3,101.5 crore as against Rs 1,073.2 crore in the year-ago period, Castrol India said in a statement.

The company follows a January-December financial year.

"The cost of goods sold (COGS) environment continued to be very challenging due to a sharp rise in input costs. We responded through timely pricing interventions and continued investment in our brands' advertising and marketing spends to support value delivery to customers and reinforce brand salience. These measures helped us navigate the dynamic market situation," Castrol India Managing Director Sandeep Sangwan noted.

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The company launched new products with the latest BS-VI ready technology for cars, and commercial vehicles, he added.

"With the automotive sector rapidly gearing up for electric mobility in the passenger vehicle segment, we are exploring options with two-wheeler electric vehicle (EV) manufacturers for development of EV fluids. At the same time, we continue supplying EV fluids to two of the top OEMs in India," Sangwan stated.



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PTI
first published: Oct 29, 2021 09:55 pm
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