Mumbai
According to Sandeep Sangwan, Managing
Director, Castrol India Limited, the company has reported a strong financial
performance and business delivery in 2Q of 2021.
He said that the
company has seen a good growth in 2Q this year as compared to last year. The 2Q
revenue from operations was recorded at Rs 8.9 billion which is 81% higher than
last year. The 1H 2021 revenue from operations was recorded at Rs 20.28 billion
which is 72% higher than last year.
Due to the
second wave of corona pandemic, the quarter experienced some challenges because
of lockdowns, muted demand, and rise in cost of inputs, he added. The company
wants to invest in its brands by increasing its expenditure on marketing and
advertising. The brand has also launched a new concept of Castrol Express Oil
change outlets. These outlets will help on-the-go consumers to quickly get oil
change service. The company has also used its digital platforms to build
engagement with the biker community in respect of Castrol POWER1 ULTIMATE two-wheeler engine oils.
Sandeep also
said that the safety of its people is the priority for the company along with
protecting the financial health of the business. The company has also achieved
a key milestone of manufacturing plant at Silvassa. The work of the company was
acknowledged when its flagship CSR programmes were recognized with ‘Excellence
in CSR” award by British Business Group Delhi.
The interim dividend
of INR 2.50 per share was declared by the Board of Directors of the Company. If
the situation remains normal, the company is confident of its strong business
fundamentals and long-term profitable business growth.
Source – Press release of "Castrol"
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