10 percent decrease reported by Castrol India in 1st quarter

Castrol India is one of the most famous and successful lubricant manufacturer of India. Along with the Indian two wheeler market, Castrol India too grew very quickly.



Now the lubricant major has reported a decrease in their sales. The net profit of the company slipped by 10 per cent in the first quarter of calendar year 2012. This clearly indicates the fact that the company is facing some tough time here.

It was reported that the company's net profit stood at Rs 122.9 crore, down from Rs 136.6 crore in the corresponding period last year. A decline of almost 13 crore will surely be a big thing of concern for the company.



"Since the second half of last year the lubricant market growth has been slower due to the economic slowdown and inflationary pressures. This has been compounded by continuing input cost pressure and rupee depreciation which have impacted margins." said Mr. Ravi Kirpalani, Chief Operating Officer and Automotive Sales Director, Castrol India.