Mumbai-based automotive lubricant maker, Castrol India's shares gained over 3 percent on Tuesday to hit a 52-week high.
Castrol India’s net profit during the September-ended quarter was flat at Rs 187 crore as against Rs186 crore in the year-ago period. Castrol India follows a January-December calendar year as its financial year.
Operational revenues were Rs 1,121 crore in the third quarter as against Rs 1,073 crore in the previous corresponding quarter. The company said that price increases helped it counter the impact of higher input costs and soaring inflation.
Castrol India as part of its future-ready strategy is foraying into the automotive aftercare market and into service and maintenance. As part of the expansion plan, Castrol India is collaborating with electric vehicle OEMs to help advance electric mobility in India and supporting mechanics to get EV-ready.
Shares of Castrol India are trading 3.6 percent higher at Rs 134.70.
