Lube blender Castrol India saw profit rise in the second quarter of the year as higher sales volumes boosted revenue that grew faster than costs.The blender, whose brands include Castrol GTX and Castrol CRB, saw operating profit rise to 3.05bn Indian rupees ($36.9mn) in the three months to end-June.Profit rose 9pc from a year earlier to the highest since the beginning of 2022.Surging feedstock costs since then drove up total costs that exceeded revenue growth in four of the last five quarters.That trend paused in the second quarter, even if only just. Castrol India’s sales rose by 7.4pc during the period, outpacing the 7.3pc rise in costs.Firmer sales helped to lift the blender’s profit margin to 22.9pc in the second quarter.The margin rose from 22.3pc in the first three months of the year to the highest since the first quarter of 2022.It remained below average levels of 27pc in the five years to end-2021. .Castrol’s Q2 profit improves
Lube blender Castrol India saw profit rise in the second quarter of the year as higher sales volumes boosted revenue that grew faster than costs.The blender, whose brands include Castrol GTX and Castrol CRB, saw operating profit rise to 3.05bn Indian rupees ($36.9mn) in the three months to end-June.Profit rose 9pc from a year earlier to the highest since the beginning of 2022.Surging feedstock costs since then drove up total costs that exceeded revenue growth in four of the last five quarters.That trend paused in the second quarter, even if only just. Castrol India’s sales rose by 7.4pc during the period, outpacing the 7.3pc rise in costs.Firmer sales helped to lift the blender’s profit margin to 22.9pc in the second quarter.The margin rose from 22.3pc in the first three months of the year to the highest since the first quarter of 2022.It remained below average levels of 27pc in the five years to end-2021. .Castrol’s Q2 profit improves
