Castrol India Q1 2022 Report
Industrial lubricant manufacturing company, Castrol India has announced results for the first quarter of this year from January to March 2022 as per their financial calendar.
The company registered revenue from operations of Rs. 1,236 crore with a growth of 9 percent compared to ₹1,139 crore in quarter one and the profit before tax for the quarter stood at Rs. 311 crore, compared to Rs. 332 crore.
Commenting on the quarterly results, Sandeep Sangwan, Managing Director of Castrol India, said, “Continuing our growth momentum from 4Q 2021, Castrol India delivered a strong performance in 1Q 2022, achieving double-digit growth in volumes, revenues, gross profit and profit before tax, marking a significant growth over the previous quarter. Despite a brief impact from the third wave of Covid-19 in January, business operations resumed normalcy and 1Q 2022 witnessed a good resurgence in demand. While inflationary and supply side pressures continued to be high, Castrol India was able to serve its customers’ needs by leveraging its strong distribution network and supplier relationships.”
In the first quarter of 2022, Castrol India also expanded their Castrol Auto Service (CAS) network to 116 multi-brand passenger car workshops in more than 50 cities across India.
