Castrol India Ltd.’s profit from operations during the third quarter (July-September 2016) was down by 1.9 per cent at Rs. 202.2 crores, whilst profit after tax at Rs. 139.8 crores was down by 2.4 per cent as compared to the same period last year.
For the nine-month January-September 2016 period, profit from operations was up by 15.1 per cent at Rs. 751.2 crores, whilst profit after tax was up by 9.4 per cent to Rs. 519.1 crores as against Rs. 474.4 crores during the same period in the previous year.
Commenting on the results, Mr. Omer Dormen, Managing Director, Castrol India Ltd., said: “We continued to grow volume year on year during the last quarter across key segments. The volume growth was led by personal mobility and power brands in line with our strategy and also strong growth in the industrial segment. We witnessed softer volume in the heavy duty segment due to heavy monsoon in some parts of the country. The marine segment volume dipped during the quarter due to continued pressure on marine business globally. The company continues its focus on volume growth and investment behind power brands. The commercial vehicle segment has seen a healthy double-digit growth in the key brands which we continue to invest in.”
Castrol India continues to strengthen its brand equity through sustained investment in brand building activities, and this has been reflected in the recent Millward Brown survey where Castrol India has the highest brand health scores by far over competitors, both as far as consumers and mechanics are concerned.
The company also continues to strengthen its relationship with its key account customers and has recently renewed a strategic five-year agreement with the Tata Motors passenger car division.