Castrol India's net profit jumps 7% to Rs 216 crore in Q1CY24

Castrol India has reported net profit of Rs 216 crore during Q1 CY2024, reflecting a 7% rise compared to Rs 203 crore in Q1 CY2023. The revenues from operations grew to Rs 1,325 crore, a 2% increase compared to Rs 1,294 crore in Q1 CY2023.

“While we experienced initial softness in consumer demand, we delivered a 2% revenue growth, demonstrating the effectiveness of our strategic approach and the resilience of the Castrol brand,” said Sandeep Sangwan, Managing Director of Castrol India. “The successful launch of innovative products last quarter significantly expanded our market share across segments."

Deepesh Baxi, Chief Financial Officer of Castrol India added, “Our strategic initiatives and resilient approach have positioned us well in navigating the dynamic market landscape. As we continue to focus on driving growth and maximizing value for our stakeholders, we remain committed to prudent financial management and strategic investments to sustain our momentum in the quarters ahead.”