Castrol India posts 8% growth in revenues, but profits fall by 15%

Despite an 8% growth in revenues amounting to Rs851.3 crore (US$153 million), the high cost of materials resulted in a 15% dip in Castrol India’s net profit to Rs120.9 crore (US$21.7 million). The company did however see a 5% growth in volumes during the quarter, and its market share in the retail automotive segment rose to above 20%. During the quarter, Castrol India also introduced the “Durashield boosters” technology in its two flagship brands, Castrol CRB Plus and Castrol CRB Turbo, which was marketed through an aggressive campaign. (July 18, 2012)