Castrol India, which makes lubricant brands such as Castrol CRB and Castrol GTX reported a net profit of Rs 189 crore during the fourth quarter ending December 2021. Its net profit was Rs 188 crore in the year-earlier period. The company follows the calendar year of January-December for auditing purposes.
The company’s revenues for its Q4 for this calendar (October-December) increased by 17 percent to Rs 1,091 crore. Furthermore, on the full year basis (January-December), it jumped by 40 percent to Rs 4,192 crore in comparison to corresponding period previous year. Also, net profits rose to Rs 758 crore as compared to Rs 583 crore during the year-earlier period.
The company in a statement said that it achieved the growth amidst a very challenging environment marked by an unprecedented spike in input costs and supply chain distributions on account of the pandemic.
Sandeep Sangwan, Managing Director, Castrol India said, "Despite an adverse environment with rising input costs and softer market demand, we also grew our bottom line through focused investments and prudent cost actions."