Castrol India Announces Results & Shows Positive Growth

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Castrol India has announced its results for Q4 and the year 2014 as well. They are proud to confirm that they have been in the positive side of growth. The oil and lubricant producer has showcased tremendous growth in a difficult macro-economic environment.

The profit from operations during the quarter witnessed a sharp increase by 20 percent. This was due to an increase of one percent in terms of volume and higher Unit Gross Margin. The other income was comparatively lower owing to lower interest post the capital reduction. This resulted in five percent increase in profit after tax, which stood at INR 132 crores in the same quarter.

In the previous year of 2014, Castrol India reported growth of four percent compared to 2013. Their profit from operation during 2014 stood at INR 680.6 crores. The profit after tax, however, was low at INR 474.5 crores compared to INR 508.6 crores in 2013.

Ravi Kirpalani, Managing Director, Castrol India Limited, commented, "This is indeed a strong overall performance and we have made good progress on our strategic agenda including driving safety, employee engagement scores, brand health and market share of key brands in key geographies - all of which showed improved performance over previous year."

He further added, "We also led the industry by driving new category creation in the Commercial Vehicles and Scooter segments, launching two new brands Castrol CRB Mini-truck (for Medium Light Commercial Vehicles) and Castrol Activ Scooter (for the fast growing Scooter segment)."

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Story first published: Thursday, February 26, 2015, 10:57 [IST]
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