The company’s sales for 4Q CY22 were reported at Rs 1,176 crore, up 8 percent from what it did in 4Q CY2021.
Castrol India reported a net profit of Rs 193 crore for 4Q12, a slight jump of 2.12 per cent from the previous year’s net profit of Rs 189 crore.
The company follows a calendar year basis (January to December) for its financial reports.
Similarly, the company’s sales for 4Q CY22 were reported at Rs 1,176 crore, up 8 percent from the Rs 1,091 crore it posted in 4Q CY2021.
Sandeep Sangwan, Managing Director, Castrol India, said, “2022 was marked by high currency and inflationary pressures from volatile crude oil prices, leading to increased additive and base oil costs.”
He added that the company balanced its volumes and margins through timely pricing decisions and rigorous cost management, which achieved economic growth. “In the fourth quarter, we strengthened our service and maintenance network with a strategic partnership with Ki Mobility Solutions and we have expanded the reach of our service brands: Castrol Auto Service, Castrol Bike Points and Castrol Express Oil Change,” continued Sangwan.
Sharing a future outlook, Sangwan further noted, “We will continue to drive Castrol’s long-term growth through our future-ready strategy, which focuses on an upped game in service and maintenance, and a foray into new segments such as automotive aftercare and electric mobility”.
Company management said that in the electric vehicle space, in 2023, it will launch the Castrol ON range of aftermarket electric vehicle fluids and collaborate with two- and four-wheeler OEMs to support their transition to electric vehicles. It also claims to be helping mechanics prepare for EVs through certified training, which will help create an ecosystem capable of better serving EVs.
