5 Minutes Read
Castrol India Q1 Results | Net profit grows 7% to ₹216 crore, revenue up 2%
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
At the operating level, EBITDA jumped 1.1% to ₹293.7 crore in the first quarter of this fiscal over ₹290.6 crore in the year-ago period. Shares of Castrol India Ltd ended at ₹210.65, down by ₹1.70, or 0.80% on the BSE.
Lubes maker Castrol India Ltd on Tuesday (April 30) reported a 6.8% year-on-year (YoY) increase in net profit at ₹216.2 crore for the first quarter that ended March 31, 2024.
The company follows the January to December financial year.
In the corresponding quarter, Castrol India posted a net profit of ₹202.5 crore, the company said in a regulatory filing. The company’s profit before tax (PBT) for the first quarter of 2024 reached ₹292 crore, reflecting a 1% rise, compared to ₹288 crore in the first quarter of 2023.
The company’s revenue from operations increased 2.4% to ₹1,325.2 crore against ₹1,293.9 crore in the corresponding period of the preceding fiscal. The revenue for the first quarter of 2024 saw an increase of 5% from ₹1,264 crore in the preceding quarter (fourth quarter of 2023).
Also Read: Spandana Sphoorty Q4 net profit up 5%, net interest income climbs 21%
At the operating level, EBITDA jumped 1.1% to ₹293.7 crore in the first quarter of this fiscal over ₹290.6 crore in the year-ago period. The EBITDA margin stood at 22.2% in the reporting quarter compared to 22.5% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Sandeep Sangwan, Managing Director of Castrol India, said, “While we experienced initial softness in consumer demand, we delivered a 2% revenue growth, demonstrating the effectiveness of our strategic approach and the resilience of the Castrol brand.”
The results came after the close of the market hours. Shares of Castrol India Ltd ended at ₹210.65, down by ₹1.70, or 0.80%, on the BSE.
Also Read: Poonawalla Fincorp Q4 Results | Net profit soars 84%, quarterly disbursement at record high
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
