Castrol India Ltd.'s consolidated net profit rose 3% in the second quarter of calendar year 2024, in line with analysts' estimates.
The lubricants maker posted a profit of Rs 232 crore in the quarter ended June, according to an exchange filing on Tuesday. Analysts tracked by Bloomberg had a consensus estimate of Rs 238.3 crore. Castrol follows the calendar year for reporting its financial performance.
Castrol Q2 2024 Results: Key Highlights (Consolidated, YoY)
Revenue up 4.8% to Rs 1,398 crore. (Bloomberg estimate: Rs 1,379.7 crore).
Ebitda up 4.1% to Rs 322 crore. (Bloomberg estimate: Rs 329 crore).
Margin flat at 23% (Bloomberg estimate: 23.8%).
Net profit up 3% to Rs 232 crore. (Bloomberg estimate: Rs 238.3 crore).
Key Highlights: Outlets
The company had added over 2,000 new outlets in rural areas in order to enhance its distribution and broaden market presence.
The company's national footprint exceeds 1.35 lakh outlets, with 534 Castrol Auto Service outlets, 28,435 bike points, and 9,000 multi-brand car workshops as of as of February 2024.
Key Highlights: Products
Castrol India has launched three new variants of Castrol EDGE for SUVs, hybrids and European vehicles.
The company has also expanded its Auto Care range with the launch of Shiner Sponge for the bike and car care segment. The entire range is now available in over 45,000 outlets and ecommerce platforms.
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