Castrol India's Q3 profit rises on persistent demand
Oct 24 (Reuters) -Engine oil maker Castrol India CAST.NS reported a 6.7% increase in third-quarter profit on Thursday, driven by continued demand for its automobile lubrication products.
The company, in which oil major BP BP.L has a 51% stake, said profit after taxes rose to 2.07 billion rupees ($24.6 million) in the July-September quarter, from 1.94 billion rupees a year ago.
India's overall vehicle sales have been strong for the past few quarters, benefiting companies like Castrol, which generates over 80% of its revenue from the automobile lubricants market.
The company, which also makes industrial lubricants like turbine oils, said revenue from operations grew nearly 9% to 12.88 billion rupees in the quarter.
"Performance was driven by strong volume growth across categories," the company said in a statement, without giving a break up of its revenue distribution.
Its expenses grew 9.5% in the quarter, with the cost of raw and packing materials consumed, among its biggest, increasing 9%.
Castrol India's shares closed 1.8% lower ahead of results. They have risen 15.4% so far this year, while those of smaller peer Gulf Oil Lubricants India GOLU.NS have jumped 60.6%.
($1 = 84.0410 Indian rupees)
Reporting by Meenakshi Maidas in Bengaluru; Editing by Savio D'Souza
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限,并允许个人查看和/或使用网站或网站所提供的内容,但无意进行任何更改或扩展,也不会更改或扩展其服务和访问权限。所有访问和使用权限,将受下列条款与条例约束:(i) 条款与条例;(ii) 风险提示;以及(iii) 完整免责声明。请注意,网站所提供的所有讯息,仅限一般资讯用途。此外,XM所有在线交易平台的内容并不构成,也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料,仅适用于教育/资讯类用途,不包含也不应被视为用于金融、投资税或交易相关咨询和建议,或是交易价格纪录,或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容,包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接,皆保持不变,并作为一般市场评论所提供,而非投资性建议。所有在线交易平台所发布的资料,仅适用于教育/资讯类用途,不包含也不应被视为适用于金融、投资税或交易相关咨询和建议,或是交易价格纪录,或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解,XM非独立投资研究提示和风险提示相关资讯,更多详情请点击 这里。