Castrol India announces third quarter results

Kolkata, Oct 16 (UNI) Castrol India Limited, a major player in the automotive lubricant market, has declared its nine monthly results for the period ended September 30 when its Net sales revenue for the third quarter is up by 26 per cent and Profit after Tax (PAT) shown an increase of one per cent over the corresponding quarter in the previous year.

Commenting on the results, company sources quoting Managing Director Naveen Kshatriya said, "Castrol India has achieved significant growth in revenue in the quarter driven largely by higher price realizations." The cost of goods (COGS) environment is continued to be extremely challenging with sharp increases in prices of base oils and additives. This has resulted in cost of goods registering a sharp increse of 45 per cent.

He said Castrol continued to focus on product upgradation and has re-launched its premium car engine oil Castrol GTX. A new workshop offer "Castrol professional" has been launched for the workshop sector.

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