Castrol India Q3 PAT up 7%; revenue rises 9% Y-o-Y

Leading lubricant manufacturer Castrol India on Thursday reported a 6.7% rise, year-on-year, in its profit after tax (PAT) for the July-September quarter. The Mumbai-headquartered firm witnessed its net profit grow to Rs 207 crore for the quarter, up from Rs 194 crore in the corresponding quarter previous year.

During the period, its operating revenue grew 9% year-on-year to Rs 1,288 crore - up from Rs 1,183 crore. In the first nine months of 2024, Castrol’s revenue from operations grew 5.2% to Rs 4,011 crore. In the January-September 2023 period, it had posted Rs 3,811 crore operating revenue. The firm follows the January-December financial year format.

“We are proud of our consistent year-on-year growth, which reflects our ability to navigate a dynamic market environment and deliver value to our shareholders. The achievement of our strong 3Q sales volumes and profits is a testament to our strategic focus and operational excellence. Our balanced approach to optimizing volumes and margins, along with continuous innovation, expanding distribution infrastructure, and brand-building efforts, has driven sustained revenue growth,” Sandeep Sangwan, Managing Director, Castrol India Ltd said in a statement.

According to Deepesh Baxi, Chief Financial Officer, Castrol India, the company achieved record-breaking 3Q sales volume and profits. During the quarter, Castrol India management said, it continued its efforts to expand the distribution network, which have resulted in reaching 35,000 workshops and retail outlets in rural India. Overall, Castrol now has a national footprint exceeding 136,000 outlets, which include 580 Castrol Auto Service outlets, 29,500 bike points, 9,400 multi-brand car workshops, and dealers.

“We will continue to prioritize product and service innovations while strengthening our partnerships with key OEMs in automotive and industrial sectors. In addition, we plan to maintain our growth momentum through strategic brand investments in the upcoming months,” Sangwan added.