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27 Years
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1 Crore +
Oil Marketing & Distribution company Castrol India announced Q1CY24 results:
Financial Highlights:
- Castrol India reported a revenue of Rs 1,325 crore in the first quarter of 2024, marking a 2% increase compared to the Rs 1,294 crore achieved in the first quarter of 2023.
- The Profit Before Tax for Q1CY24 was Rs 292 crore, slightly up by 1% from the previous year's equivalent period, which was Rs 288 crore.
- Profit After Tax for the company rose by 7% YoY, reaching Rs 216 crore in Q1CY24 compared to Rs 203 crore in Q1CY23.
Sandeep Sangwan, Managing Director of Castrol India Limited, said, “The successful launch of innovative products last quarter significantly expanded our market share across segments. Our ongoing initiatives, including campaigns like #BadhteRahoAage and Castrol CRB TURBOMAX Pragati Ki Paathshaala, are gaining traction and set to propel further momentum. These efforts are fueled by our unwavering commitment to brand building and cutting-edge innovation. Reaching over 12,000 truck drivers nationwide through Pragati Ki Paathshaala exemplifies the impact of our programs. Our strategic association with the iconic Shah Rukh Khan reflects our pursuit of excellence, while partnerships with powerhouses like the Mumbai Indians and KTM Cup 2024 solidify our dedication to performance-driven strategies.”
“Looking forward, our focus remains sharp: delivering unbeatable value propositions tailored to the unique needs of our diverse customer segments. We’re achieving this through relentless product innovation and a strengthened presence in rural markets. Throughout the year, expect a continuous stream of cutting-edge products across portfolios that solidify our position at the forefront. This unwavering commitment to innovation and customer-centricity fuels our confidence in delivering sustainable growth and lasting value for both consumers and customers alike.”
Deepesh Baxi, Chief Financial Officer of Castrol India Limited added, “Our strategic initiatives and resilient approach have positioned us well in navigating the dynamic market landscape. As we continue to focus on driving growth and maximizing value for our stakeholders, we remain committed to prudent financial management and strategic investments to sustain our momentum in the quarters ahead.”
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