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Castrol net profit up 2% at Rs 185 crore in March quarter

Net profit in January-March at Rs 185 crore, or Rs 1.87 per share, was higher than Rs 181.8 crore, or Rs 1.84 per share, in the same period of the previous year

twitter-logo PTI        Last Updated: April 29, 2019  | 21:54 IST
Castrol net profit up 2% at Rs 185 crore in March quarter
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Castrol India Ltd Monday reported a 2 per cent rise in net profit in the March quarter on the back of higher revenues.

Net profit in January-March at Rs 185 crore, or Rs 1.87 per share, was higher than Rs 181.8 crore, or Rs 1.84 per share, in the same period of the previous year, the company said in a statement.

Revenue rose 5 per cent to Rs 976.2 crore.

"The company grew profits in a tough external environment," it said.

Omer Dormen, Managing Director, Castrol India Ltd: "We continue progressing really well against our strategic priorities and in first quarter 2019, we have seen strong topline improvement contributed by growth in personal mobility space, focus channels and new premium products."

In a tough environment, which witnessed softening of economic indicators, sluggish demand and higher input costs, the company has been resilient to grow, he said.

"Through prudent cost control initiatives, strategic sourcing and better product mix management we have been able to protect our margins quarter on quarter," he added.

Castrol follows January to December as the financial year and January-March was its first quarter.

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