Castrol India posts profit of Rs 501 cr in 2H CY20
ANI |
Updated: Feb 02, 2021 14:30 IST
Mumbai (Maharashtra) [India], February 2 (ANI): Automotive and industrial lubricant manufacturerCastrol India has posted 54 per cent higher revenue at Rs 1,818 crore in the second half (2H CY20) while profit from operations was 122 per cent higher at Rs 501 crore versus 1H CY20.
Managing Director Sandeep Sangwan said the company delivered a resilient financial performance in a difficult year marked by the pandemic and ensuing external challenges.
In 4Q CY20, Castrol India increased its marketing and advertising spends year-on-year (Rs 65 crore in 4Q 2020 versus Rs 11 crore in 4Q 2019).
"This helped in achieving a top-line growth of 6 per cent versus 3Q 2020. We expect the positive impact of this investment to continue going forward," it said in a statement.