Mumbai, Maharashtra, India
Castrol India Limited, market leader in the retail automotive lubricant segment, today announced an 18% increase in its Net Sales for the period January - March 2006. Net Sales increased from Rs.319.7 crores in January - March 2005 to Rs.375.7 crores during the same period this year. Profit Before Tax also increased by 7% from Rs.46.3 crores during January - March 2005 to Rs.49.4 crores during the same period this year.
Commenting on the results, Mr. Naveen Kshatriya, Managing Director, Castrol India Limited, said - "the unabated, rapid escalation of cost of material has left us with no option but to recover this in our pricing. Our valued customers remain loyal and continue to patronize our brand because of its intrinsic strengths : technology leadership, continuous innovation, strong consumer commitment and customer service. We have also undertaken several cost saving initiatives which have enabled us to deliver satisfactory results in an extremely challenging environment. In spite of an ongoing difficult environment we are committed to invest in customer relationships, brand building and innovation".
About Castrol India Limited
Castrol India Limited is a public limited company in which 70.92 % of the paid-up capital is held by Castrol Limited, U.K which is a part of BP Group worldwide. Starting off as a trading unit in India, Castrol has grown to become the largest lubricant company in the retail automotive segment. Castrol has constantly demonstrated its commitment to Indian consumers by offering world class products, backed by the highest level of customer service. Castrol India is acknowledged as the technology leader in the Indian lubricant industry.
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Sandesh Advani, IPAN, +91 98201 94678 sandesh@ipan.com
Source: Castrol (Business Wire India)
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