Castrol India reports PAT at Rs 193 crore in October-December 2022

Lubes maker Castrol India on Monday reported its profit after tax at Rs 193 crore in the October-December quarter of 2022.

The company had reported a PAT (profit after tax) of Rs 189 crore in the corresponding quarter of the preceding year.

The company follows calendar year (January-December) for financial reporting.

The revenue from operations during the quarter under review stood at Rs 1,176 crore, registering an 8 per cent growth over Rs 1,091 crore delivered in the October-December period of 2021, it said.

For the full year ended December 2022, PAT grew 8 per cent to Rs 815 crore from Rs 758 crore in the year earlier.

Revenue from operations in 2022 stood at Rs 4,774 crore against Rs 4,192 crore a year ago, up 14 per cent year-on-year, it said.

"2022 was marked by high forex and inflationary pressures arising from volatile crude oil prices, leading to rising costs of additives and base oil. We balanced our volumes and margins through timely pricing decisions and rigorous cost management and delivered bottom line growth.

"In 4Q, we bolstered our service and maintenance network with a strategic partnership with Ki Mobility Solutions and expanded the reach of our service brands," said Sandeep Sangwan, Managing Director, Castrol India Limited.

Castrol India will continue to drive long-term growth for Castrol through its future-ready strategy, which focuses on an enhanced play in service and maintenance, and a foray into new segments including automotive aftercare and electric mobility, he said.

The company will roll out Castrol ON range of EV fluids for the aftermarket and collaborate with two-wheeler and four-wheeler makers to support their EV transition, he added.