Mumbai, April 29: Castrol India Limited, market leader in the retail automotive lubricant market, has set yet another landmark performance with a record first quarter.
The performance has been further underpinned with profitable volume growth during the period under review as compared to previous year. During the Quarter January - March 2008, Profit Before Tax increased by 79 per cent to Rs.117.8 crores, Profit After Tax increased by 75 per cent to Rs.72.8 crores and Net Sales for the Quarter was up by 11 per cent to Rs.492.9 crores.
Commenting on the results, Naveen Kshatriya - Managing Director - Castrol India Limited, said, "The record performance has been built around the strength of the Castrol brand, our enduring relationships with all stakeholders and the passion of our people. The results also demonstrate the premium our customers and consumers place on brand superiority, product quality and customer service. Coming on the heels of the strong 2007 results, the results vindicate the tremendous effort put in by the Castrol India team even in the face of volatile external environment and continuous movement of raw material costs. The company continues to focus on value build - driving profitable volume growth through discerning consumers who are willing to pay a premium for superior quality and service."
The company has started the year with rollout of some radical initiatives to improve and simplify the distribution management in the Automotive part of the business.
This is expected to improve productivity and release working capital on a sustainable basis.
The company continues to support its brands aggressively through innovative advertising and sales promotion initiatives.
The company also continues to invest heavily in long term value creating initiatives like Castrol BikeZone - a franchised motorcycle servicing concept - which is now established and ready to scale up.