Castrol India Q3 Net up 22%; Records Rs. 104.5 crores
Castrol India Limited today announced its third quarter results for the period July – September 2013. The Company delivered improved performance with Profit After Tax growing by 22% at Rs. 104.5 crores as against Rs. 85.7 crores during the same period in the previous year.
For the nine month period January – September 2013, Profit after Tax is up by 16% to Rs. 382.4 crores as against Rs. 329.5 crores during the same period in the previous year.
Commenting on the third quarter results, Ravi Kirpalani – Managing Director, Castrol India Limited, said: “Despite the unfavorable economic scenario, including significant rupee depreciation, the third quarter results show improved gross margin on account of higher sales realisation, lower base oil prices and effective cost management strategy.”
According to Kirpalani, “The business environment continues to remain highly challenging. Continuing rupee depreciation, credit crunch and overall industry slowdown hampered economic growth. The B2B (business to business) and in particular, the building and construction segment, were under pressure and witnessed lower volumes during the quarter under review. This volume drop was partially offset by a strong performance in the personal mobility sector ie the passenger car and two wheeler engine oil segments.”
Castrol Power1, our premium two-wheeler engine oil was relaunched with contemporary new packaging and a refreshed brand proposition
In the commercial vehicle segment, the company launched Castrol RX Super Max Fuel Saver in collaboration with its key partner – Tata Motors – the country’s largest commercial vehicle Original Equipment Manufacturer (OEM). This is the first diesel engine oil to be recommended for fuel efficiency by an OEM. Castrol RX Super Max is designed to increase the fuel efficiency of Tata trucks by 1.5% (over SAE 15W40 engine oil of similar performance credentials) and save substantial amounts of diesel as well as operating costs.