The Hindu Business Line : Castrol Q1 net up 19 pc at Rs 31.9 cr

AN increase in sales due to better economic conditions has helped automotive and industrial lubricants maker Castrol India report first quarter net profit of Rs 31.96 crore, a 19 per cent jump over the Rs 26.82 crore recorded during the same period last year.

Net sales improved 10 per cent to Rs 319.66 crore or Rs 2.58 a share compared to last year's figure of Rs 289.38 crore or Rs 2.17 a share.

Higher sales revenue can be largely attributed to successful implementation of marketing initiatives and prevailing strong economic conditions, said Mr Naveen Kshatriya, Managing Director, in a press release.

The company's total cost during the quarter was Rs 192.26 crore (Rs 171.75 crore). A large part of it was increase in the cost of raw material, i.e., base oil, which is linked to crude oil prices.

The company said it expects base oil prices to continue to harden over the next few quarters.

Interest costs were up at Rs 81 lakh (Rs 62 lakh) while depreciation was Rs 4.93 crore (Rs 3.54 crore).

During the period under review, the company launched two major marketing campaigns targeting bikers and the agricultural segment.

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