Engine oil maker Castrol India
posted a 3.7 per cent rise in its first quarter profit on
Tuesday, supported by higher volumes across rural and premium
segments and growth in its industrial business.
The lubricant maker’s profit after tax rose to ₹242 crore ($25.60 million) in the quarter ended March 31, from ₹233 crore a year earlier.
Here are the details:
Revenue from operations increased about 9 per cent to 15.45
billion rupees, driven by continued market-share gains and
expansion across rural and urban markets.
Growth was supported by double-digit expansion in the
rural portfolio and continued traction in premium products in
urban markets, the company said in an exchange filing.
Its EBITDA increased 7 per cent year-on-year to ₹329 crore, helped by higher volumes across the automotive and
industrial lubricant segments.
However, total expenses rose 9 per cent during the quarter as raw
material and packing material costs increased year-on-year,
limiting margin expansion.
The company also saw early signs of currency volatility
and rising raw material costs toward the end of the quarter due
to geopolitical developments, Chief Financial Officer Mrinalini
Srinivasan said.
($1 = 94.5338 Indian rupees)