Castrol India Q4 Profit Up 7% to Rs 216 Cr - Business News
By Rediff Money Desk, MUMBAI Apr 30, 2024 21:59
Castrol India's profit after tax (PAT) increased 7% year-on-year to Rs 216 crore in the January-March quarter of 2024, driven by strategic initiatives and resilient approach.
Mumbai, Apr 30 (PTI) Lubes maker Castrol India Limited on Tuesday said its profit after tax (PAT) increased 7 per cent year-on-year to Rs 216 crore in the January-March quarter of 2024.
The company had delivered a PAT of Rs 203 crore in the January-March period of 2023, Castrol India said in a statement.
The company follows the January-December year for financial reporting.
The company's revenue from operations during the quarter under review stood at Rs 1,325 crore, up 2 per cent from Rs 1,294 crore in the first quarter of 2023, it said.
"While we experienced initial softness in consumer demand, we delivered a 2% revenue growth, demonstrating the effectiveness of our strategic approach," Castrol India said.
"Our strategic initiatives and resilient approach have positioned us well in navigating the dynamic market landscape. 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," said Deepesh Baxi, Chief Financial Officer of Castrol India Limited.
"Throughout the year, expect a continuous stream of products across portfolios that solidify our position at the forefront," Castrol India MD, Sandeep Sangwan stated.
The company had delivered a PAT of Rs 203 crore in the January-March period of 2023, Castrol India said in a statement.
The company follows the January-December year for financial reporting.
The company's revenue from operations during the quarter under review stood at Rs 1,325 crore, up 2 per cent from Rs 1,294 crore in the first quarter of 2023, it said.
"While we experienced initial softness in consumer demand, we delivered a 2% revenue growth, demonstrating the effectiveness of our strategic approach," Castrol India said.
"Our strategic initiatives and resilient approach have positioned us well in navigating the dynamic market landscape. 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," said Deepesh Baxi, Chief Financial Officer of Castrol India Limited.
"Throughout the year, expect a continuous stream of products across portfolios that solidify our position at the forefront," Castrol India MD, Sandeep Sangwan stated.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.80 ( -0.71)
- 44492337
- G V Films
- 0.94 (+ 9.30)
- 37404318
- Jaiprakash Power Ven
- 19.44 ( -3.38)
- 30530141
- Spicejet Ltd.
- 62.79 ( -4.25)
- 22824171
- Srestha Finvest
- 0.89 (+ 4.71)
- 21696619
MORE NEWS
Zomato CEO Calls for Better Treatment of...
Zomato CEO Deepinder Goyal experienced firsthand the challenges faced by delivery...
Samsung Labor Strike: Talks Held in Tamil Nadu
Samsung officials met with Tamil Nadu's Industries Minister to resolve the ongoing...
Paytm CEO on Consumer Payments Focus &...
Paytm CEO Vijay Shekhar Sharma outlines the company's focus on recovering lost consumer...