Castrol India Limited has announced its results for the second quarter ended 30 June 2024. The company adheres to the calendar year (January to December) for its financial reporting.

During the second quarter (2Q), from April to June 2024, the company's revenue from operations grew at five per cent to Rs 1,398 crores, compared to Rs 1,334 crores in the corresponding quarter in the previous year (2Q 2023). When compared to the sequential quarter (1Q 2024), it rose 6 per cent from Rs 1,325 crores.

The Profit Before Tax for 2Q 2024 stood at Rs 314 crores, a gain of three per cent compared to Rs305 crores in 2Q 2023, and eight per cent higher than Rs 292 crores in 1Q 2024.

For the first half (1H) of the year ended 30 June 2024, the company recorded revenue from operations of Rs 2,723 crores, marking a growth of four per cent compared to Rs 2,628 crores in 1H 2023. Profit Before Tax for the period stood at Rs 606 crores, marking a growth of two per cent from Rs 593 Crores in 1H 2023.

"We are proud of our strong second-quarter performance, driven by product launches like the Castrol EDGE range and marketing campaigns featuring Shah Rukh Khan," said Sandeep Sangwan, Managing Director of Castrol India Limited. "Our balanced focus on volumes and margins, along with our commitment to innovation and brand building, has driven revenue growth. As we celebrate 115 years in India, we remain dedicated to delivering innovation, performance, reliability, and protection. Notably, our presence in major sports properties like the IPL, T20 World Cup, and Wimbledon underscores our strong brand visibility."

"Looking ahead, ongoing innovations in products and services, coupled with strategic brand investments, will sustain our growth momentum. Potential stabilisation of input costs in the latter half of the year could signal a positive trend for the industry, "Deepesh Baxi, Chief Financial Officer, Castrol India Limited, concluded.