For the quarter (3Q) from July to September 2023, the company registered a 6% year-on-year increase in revenue from operations, growing to Rs 1,183 crore from Rs 1,121 crore in 3Q 2022.

Profit before tax for 3Q 2023 stood at Rs 264 crore, up by 4% from Rs 254 crore in 3Q 2022.

Sandeep Sangwan, managing director, Castrol India, said, “Investing in our brand has held us in good stead leading to a 6% revenue growth. We continue to build our reach into rural India to tap into demand.” Sharing an outlook for the year ahead, Sangwan said, “The end of last quarter (Q3) saw hardening crude prices, with global uncertainties, and inflationary pressures. The recent conflict in the Middle East has brought more challenges to crude price volatility.

However, we remain poised to lead the way in setting industry trends, ensuring that Castrol continues to be a name synonymous with quality and reliability. We will continue to focus on strategic expansion in aftercare, electric vehicles and our industry partnerships for the service and maintenance of automobiles.”

Castrol India is one of India's leading lubricant companies with brands such as Castrol CRB, Castrol GTX, Castrol Activ, Castrol MAGNATEC and Castrol VECTON. The company also operates in select segments like high performance lubricants and metalworking fluids used in a wide variety of industries such as automotive manufacturing, mining, machinery, and wind energy.

The scrip rose 1.20% to end at Rs 138.90 on the BSE today.