The quarterly results season announcements have acquired a huge momentum with as many as 56 companies reporting their Q4 performances today. Among them are Indian Oil, Indus Towers, Havells, Exide Industries, Adani Total Gas, Indian Oil Corporation, Newgen Software, REC and many others. And now lubricants solution provider Castrol India Limited has revealed its own performance numbers for the fourth quarter today during the after-market hours. Castrol India has revealed that its profit after tax (PAT) has risen 7 per cent year-on-year to ₹216 cr. This was for the January-March quarter of 2024. Castrol says that it had delivered a profit after tax (PAT) of ₹203 cr in the January-March period of 2023.
Castrol India said revenue from operations in Q4 came in at ₹1,325 cr, which was marginally up (2 per cent) from ₹1,294 crore in the first quarter of 2023.
Castrol indicated that despite encountering a slight dip in consumer demand initially, it still managed to achieve an increase in revenue. In its statement, Castrol India said, “While we experienced initial softness in consumer demand, we delivered a 2% revenue growth, demonstrating the effectiveness of our strategic approach.”
Deepesh Baxi, Chief Financial Officer of Castrol India Limited said, “Our strategic initiatives and resilient approach have positioned us well in navigating the dynamic market landscape.”
As far as the future is concerned, he added, “As we continue to focus on driving growth, we remain committed to prudent financial management and strategic investments to sustain our momentum in the quarters ahead.”
On his part, Castrol India MD, Sandeep Sangwan said, “Throughout the year, expect a continuous stream of products across portfolios that solidify our position at the forefront.”
Notably, Castrol India follows the January-December year for financial reporting rather than the April-March one that most other companies do.