Castrol India posts Q3 profit at Rs 194.42 crore, revenue rises 5.5% on-year
Castrol India on Monday posted profit for the quarter ended September 2023 at Rs 194.42 crore, up 3.9 per cent in comparison to Rs 187.17 crore during the same period last year. It posted revenue from operations at Rs 1182.92 crore, up 5.5 per cent as against Rs 1121.07 crore during the third quarter of FY23. The company EBITDA stood at Rs 268.6 crore, up 4.4 per cent on-year. EBITDA margin, meanwhile, was at 22.7 per cent versus 22.9 per cent last year. The company follows the calendar year (January to December) for its financial reporting.
The numbers have ensured the company clocked a strong performance for the nine months (9M) ended 30 September 2023. The 9M Revenue from Operations was Rs 3,811 crore, clocking a 6 per cent growth compared to Rs 3,598 crore in 9M 2022. Profit Before Tax for the period stood at Rs 857 crore, marking a growth of 1 per cent from Rs 845 crore in 9M 2022.
“Investing in our brand has held us in good stead leading to a 6 per cent revenue growth. Our new #BadhteRahoAagey campaign is a testament to our commitment towards our consumers. The next leg of this campaign will be an extensive on-ground activation specifically tailored to support truckers in their pursuit of progress. We continue to build our reach into rural India to tap into demand,” said Sandeep Sangwan, Managing Director, Castrol India Limited.
Sharing an outlook for the year ahead, Sandeep Sangwan said, “The end of last quarter (Q3) saw hardening crude prices, with global uncertainties, and inflationary pressures. The recent conflict in the Middle East has brought more challenges to crude price volatility. However, we remain poised to lead the way in setting industry trends, ensuring that Castrol continues to be a name
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