Castrol India Ltd. reported second-quarter net profit grew marginally to ₹231.17 crore as compared with ₹225.27 crore in the year ago period.
The company adheres to the calendar year (January to December) for its financial reporting.
During the quarter ended June 30, 2024, the company’s revenue from Operations grew at 5% to ₹1,398 crore compared with ₹1,334 crore in the corresponding period last year.
“We are proud of our strong second-quarter performance, driven by product launches like the Castrol EDGE range and marketing campaigns…,” said Sandeep Sangwan, Managing Director of Castrol India.
“Our balanced focus on volumes and margins, along with our commitment to innovation and brand building, has driven revenue growth,” he added.
“Looking ahead, ongoing innovations in products and services, coupled with strategic brand investments, will sustain our growth momentum. Potential stabilisation of input costs in the latter half of the year could signal a positive trend for the industry,” said Deepesh Baxi, Chief Financial Officer, Castrol India.
The Board has declared an interim dividend of ₹3.5 per share, which will be paid on or before August 28, 2024.
