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0 0 0.000252016129032387 0.000252016129032387 -0.00151209677419343 -0.000504032258064416 -0.00478830645161285 -0.0112147177419355
Stock impact report

Castrol India's Q1 profit rises on new product launches, resilient demand [Reuters]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: Reuters
by new product launches and resilient demand for its automobile lubrication products. The company, in which oil major BP has a 51% stake, said profit after tax rose to 2.16 billion rupees (nearly $26 million) in the January-March quarter, from 2.03 billion rupees a year ago. A significant rise in sales of two-wheelers and passenger vehicles during the quarter along with steady demand from existing vehicles benefited Castrol, which derives more than 80% of its revenue from automobile lubricants. The company, which also manufactures industrial lubricants like turbine oils, said in a statement that the launch of new products significantly expanded its market share across segments. Revenue from operations grew 2.4% to 13.25 billion rupees, despite soft consumer demand initially in the quarter, Managing Director Sandeep Sangwan said. Total expenses grew 2.9%, as compared to a roughly 9% growth a year earlier, while the cost of raw materials and packing materials stayed flat in th Show less Read more
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