Mr. Omer Dormen, Managing Director, Castrol India Ltd., said in a press release: “We continue progressing really well against our strategic priorities, and in 1Q 2019, we have seen strong topline improvement contributed by growth in personal mobility space, focus channels and new premium products. I am pleased with the overall performance of the business as we achieved the highest-ever first quarter profit before tax in 1Q 2019. In a tough environment, which witnessed softening of economic indicators, sluggish demand and higher input costs, we have been resilient to grow our revenue from operations by 5% YOY to Rs. 976 crores and 3% increase in profit from operations YOY to Rs. 267 crores.”
Through prudent cost control initiatives, strategic sourcing and better product mix, the management has been able to protect margins quarter on quarter.
The company grew profits in a tough external environment. Robust margin management, improved product mix, strategic sourcing and cost control continued to deliver strong cash flow with rigour in working capital management.