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Castrol India Q3 net profit up 13% at Rs.117.9 crores

India Blooms News Service | 31 Oct 2014, 03:36 am
Mumbai, Oct 30 (IBNS): Castrol India Limited on Thursday announced its third quarter results for the period July-September 2014, where it net sales were up by 11% at Rs. 799.5 crores as against Rs. 719.6 crores during the same period in the previous year.

The Profit after Tax was up by 13% at Rs117.9 crores as against Rs.104.5 crores during the same period in the previous year.

Commenting on the third quarter results, Ravi Kirpalani – Managing Director, Castrol India Limited, said: “The profit for the third quarter was higher largely due to higher volume and improved unit gross profit as compared to the same period last year.  This is a strong performance driven by the continued momentum in the personal mobility segment where we have been showing good growth over the last several quarters, driven primarily by our key brands – Castrol Activ in the two-wheeler segment and Castrol MAGNATEC in the passenger car segment.”

Commenting on the Industrial business, Ravi Kirpalani said: “The Industrial business continues to show a positive trend. Despite sluggish growth in manufacturing and industrial production in the country during the first three quarters of the year, Castrol’s Industrial business has shown both volume and Gross Margin growth compared to the same period last year.”

During the quarter under review, the company launched the Castrol Professional range of CO2 neutral engine oils in the passenger car workshops. This is the world’s first certified range of carbon dioxide neutral oils and once again demonstrates Castrol’s pioneering technology.

Castrol CRB Mini Truck – a special engine oil for Medium and Light Commercial Vehicles, launched during last quarter, showed strong offtake in the market place, driven through direct communication contact with over 100,000 consumers.

Building on its strong relationships with its Business to Business (B2B) customers, Castrol India has opened a Liquid Engineering Centre at the Maruti Suzuki India Limited (MSIL) Plant in Gurgaon.

The Centre showcases the latest advances in lubricant technology and will be used for training employees as also vendors, dealers and mechanics associated with MSIL. Castrol also worked with Maruti to co-engineer and launch a fuel efficient lubricant for diesel engines.

The company also partnered with Tata Motors to co-engineer a fuel efficient engine oil for Tata Motors’ new Zest car with the Revotron engine.

In the Industrial segment, the company acquired new business with several customers in the Wind Energy sector, enabled by Castrol’s differentiated technology delivered through the range of Optigear synthetic oils. A new rust preventive – Castrol Mid Flash RP – was launched for the Tube Industry, offering significant cost saving to customers.
 

Castrol India Q3 net profit up 13% at Rs.117.9 crores

India Blooms News Service
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