Castrol India posts 11 pc growth in profit for Q2 CY19

Mumbai (Maharashtra) [India], July 30 (ANI): Automotive and industrial lubricant manufacturer Castrol India has reported that its profit after tax grew by 11 per cent to Rs 183 crore in April to June (Q2 CY19) and up by 6 per cent to Rs 368 crore in H1 CY19 compared to the same period of previous calendar year.
The company's revenue from operations rose 2 per cent at Rs 1,040 crore in Q2 CY19 and up by 4 per cent at Rs 2,016 crore in H1 CY19.
"We have made solid progress against our strategy and this continued focus has helped us deliver strong financials driven by growth in personal mobility -- especially in two-wheelers, focused channel management and robust efficiency measures," said Managing Director Omer Dormen.
"All our endeavours around people, brands, distribution, advocacy, customer acquisition and new product introductions are yielding good results and setting us up for a strong delivery for the future," he said in a statement.
Castrol India announced a new strategic partnership with Groupe Renault for supply of their after-sales network from January 1 next year. "We are also happy that we have been able to launch our BS-VI ready range of products for all categories of automotive engine oils, supporting the government's low carbon agenda," said Dormen.
The company recently signed a strategic collaboration with global technology company 3M to launch a new product range for the vehicle care market which will be offered through Castrol's distribution network.
It has three manufacturing plants at Patalganga in Maharashtra, Paharpur in West Bengal and Silvassa near Gujarat, serving a distribution network of over one lakh retail outlets and B2B customers through over 420 distributors. (ANI)