Castrol India Limited (CIL) has released its second quarter results, which ended on June 30, 2024, and showed an increase of 5% in operating revenue. In the second quarter of 2023, the company’s operating revenue increased to Rs 1,398 crore from Rs1,334 crore in the same period the previous year. The earnings before taxes for the second quarter of 2024 were Rs 314 crore, up 3% from the previous quarter’s Rs 305 crore and 8 per cent over the first quarter’s Rs 292 crore.
For the first half of the year that concluded on June 30, 2024, the firm reported Revenue from Operations of Rs 2,723 crore, a 4% rise from Rs 2,628 crore during the same time the previous year. The period’s profit before tax was Rs 606 crore, up 2% from Rs 593 crore in the first half of 2023. Sandeep Sangwan, Managing Director of Castrol India Limited, expressed satisfaction with the company’s impressive second-quarter results, which were fueled by the introduction of new products including the Castrol EDGE line.
The business launched an on-demand performance product range, while creating three new Castrol EDGE varieties for SUVs, hybrids, and motor vehicles from Europe. Further, the company launched one 360 marketing campaign with Shah Rukh Khan. The new premium truck lubricant by Castrol – Castrol CRB TURBOMAX+ CK4 was launched and the product was put to the 100000 KM real-word test on critical OEMs in India. .
Castrol POWER1 revealed India’s Ultimate MotoStar on MTV, a motor racing event in India to discover the best motor racer and ended the “Castrol CRB TURBOMAX Pragati Ki Paathshaala #BadhteRahoAage”, an informative programme in which more than 12000 truckers were educated in 35 cities. As a result, with the development of Shiner Sponge that is applicable for bike and vehicle care segments, the variety in the vehicle care line was expanded. Shiner Sponge is marketed in more than 40 000 retail stores and on the internet. Sports associations who sponsored Wimbledon and ICC WC T20 television broadcasts played an important role in drawing viewers’ attention and promotion of the brands.
To expand the Technology, Castrol developed a Technology Center at Patalganga facility, increased the outlet to more than 2000 in rural areas for better distribution and increased its market dominance.
