CASTROL INDIA Q1 RESULTS | NET PROFIT GROWS 7% TO ₹216 CRORE, REVENUE UP 2%

Lubes maker Castrol India Ltd on Tuesday (April 30) reported a 6.8% year-on-year (YoY) increase in net profit at ₹216.2 crore for the first quarter that ended March 31, 2024.

The company follows the January to December financial year.

In the corresponding quarter, Castrol India posted a net profit of ₹202.5 crore, the company said in a regulatory filing. The company's profit before tax (PBT) for the first quarter of 2024 reached ₹292 crore, reflecting a 1% rise, compared to ₹288 crore in the first quarter of 2023.

The company's revenue from operations increased 2.4% to ₹1,325.2 crore against ₹1,293.9 crore in the corresponding period of the preceding fiscal. The revenue for the first quarter of 2024 saw an increase of 5% from ₹1,264 crore in the preceding quarter (fourth quarter of 2023).

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At the operating level, EBITDA jumped 1.1% to ₹293.7 crore in the first quarter of this fiscal over ₹290.6 crore in the year-ago period. The EBITDA margin stood at 22.2% in the reporting quarter compared to 22.5% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Sandeep Sangwan, Managing Director of Castrol India, said, "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."

The results came after the close of the market hours. Shares of Castrol India Ltd ended at ₹210.65, down by ₹1.70, or 0.80%, on the BSE.

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2024-04-30T12:30:28Z dg43tfdfdgfd