Castrol India Ltd. reported a rise in net profit and revenue in the June quarter.
Its net profit rose 9.22% to Rs 225.8 crore in the second quarter, as against Rs 206.3 crore in the year-ago period, according to an exchange filing on Monday.
The oil company follows the calendar year (January to December) system for its financial reporting.
Castrol India Q2 FY23 (Consolidated, YoY)
Revenue rose 7.41% to Rs 1,333.8 crore versus Rs 1,241.7 crore.
Net profit is up 9.22% at Rs 225.3 crore versus Rs 206.3 crore.
Ebitda gains 9.04% to Rs 305 crore versus Rs 279.7 crore.
Ebitda margin at 22.87% versus 22.53%
The company has registered Rs 2,628 crore as revenue from operations for H1 FY23, which is a 6% growth as compared with Rs 2,477 crore in H1 FY22.
It expanded its portfolio by entering the auto care range and launching two new products—Castrol CRB Essential and Magnatec SUV 5W30.
"Alliances with organisations such as Mahindra Insurance Broker Ltd. strengthened our market position. Our success is attributed to a robust supply chain and customer-centric services. With confidence, we move ahead, expecting continued growth and impact into 2023-end," said Sandeep Sangwan, managing director at Castrol India, in the filing.
Shares of Castrol India closed 1.83% lower at Rs 144.7 apiece before the results were announced, as compared with a 0.55% rise in the Nifty.
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