Castrol India books Rs 194 crore PAT for Q3

CHENNAI: Lubricant major Castrol India Ltd on Monday said it closed the third quarter of FY23 with a net profit of Rs 194.42 crore.

Castrol India follows the calendar year – January – December- as its financial year.

In a regulatory filing, Castrol India said for the third quarter ended September 30, 2023, it had logged an operational revenue of Rs 1,182.92 crore (Q3FY23 Rs 1,121.07 crore) and a net profit of Rs 194.42 crore (Rs 187.17 crore).

Mangaing Director Sandeep Sangwan said: "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."

Sharing the outlook for the year ahead, 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 synonymous with quality and reliability. We will continue to focus on strategic expansion in aftercare, electric vehicles and our industry partnerships for the service and maintenance of automobiles."