|Q1 Jan – Mar 2017||Q1 Jan – Mar 2016||Q1 % Inc/ (Mar)|
|Net Sales / Income from Operations||1012.1||981.6||3%|
|Profit from Operations||251.0||246.5||2%|
|Profit Before Tax||269.2||264.9||2%|
|Profit After Tax||179.0||172.4||4%|
Castrol India Limited today announced its first quarter results for the period January – March 2017. Profit from Operations during the quarter under review was up by 2% at Rs.251.0 crores whilst Profit after Tax at Rs. 179.0 crores was up by 4% as compared to the same period last year.
Commenting on the results, Omer Dormen, Managing Director, Castrol India Limited, said: “We are delighted to announce that Castrol India delivered a strong set of results for the quarter ended March 2017 despite the lingering effects of demonetization and the rising cost of goods. We also managed to hold volumes in a market which showed a decline compared to previous year.”
“The performance continues to be driven by growth in the personal mobility segment led by power brands which now contribute significantly to the overall volumes. The industrial business also continues to deliver double digit growth in volumes in a market which is flat.”
During the quarter under review, Castrol India continued to make strong progress on its strategic priorities, focusing on new customer acquisition, distribution expansion and delivering premium customer experiences at each touch point.
The company’s Corporate Social Responsibility (CSR) strategy and plans are on track and programmes initiated last year are fast gaining traction. During the quarter under review, the company launched its flagship road safety programme - Sarathi Mitra - which aims at holistically improving lives of truck drivers. The intent is not just to equip truck drivers with safe driving skills but also counsel them on the importance of financial planning and eye care through finance literacy programmes and eye care camps.