Castrol India Limited announces third quarter results

November 14th, 2007 - 2:46 am ICT by admin  
Profit before tax during the period was at Rs.86 crores - an increase of 107 per cent against a PBT of Rs. 41 crores during the same period last year. Profit after tax was also higher by 60 per cent from Rs.34 crores during July - September 2006, to Rs.54 crores during the same period this year. Net Sales for the quarter was up by 3 per cent, from Rs.419 crores in 2006 to Rs.431 crores in 2007.

Commenting on the results, Naveen Kshatriya, Managing Director said, “The results reflect the loyal patronage of our premium products by our discerning customers, trade, workshops and Original Equipment Manufacturers (OEMs). We are proud to offer the most contemporary, world class products, backed by leading edge innovation and technology. Our consumers appreciate the quality and value propositions of Castrol brands like Edge, Magnatec, Activ 4T and Power1. Castrol CRB, India’s largest selling multigrade diesel engine oil marks its 75th year in the Indian market, continuously upgrading with vehicle technology.”

Kshatriya also emphasized the increasing strength of the relationships with key partners like OEMs and channels.

Speaking about the vital role of relationships in Castrol’s performance, Kshatriya said, “As much as we focus on revitalizing our products, we continuously work at rejuvenating and strengthening our win-win relationships with valued OEM partners like Tata Commercial Vehicles Division, Tata Passenger Cars, Mahindra and Mahindra, Ford, JCB and L and T. We have also entered into a new partnership agreement with Volvo Cars who have just launched their vehicles in India. Going forward, we will continue to explore more strategic alliances.”

To strengthen our connection with end users like bikers, car and truck owners, he said, “We have refreshed and upweighted our campaigns in media and on ground, focusing communication on product benefits and technology. We have also recently launched Castrol Magnatec - a high technology, part synthetic engine oil for passenger cars.”

The company is also moving up the service value chain through service formats like Castrol BikeZone, a chain of franchised multi-bike servicing outlets spread across the country. Castrol BikeZone customer base has doubled in the last 12 months and is now set for faster paced expansion. (ANI)

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