Castrol India, one of the country’s largest lubricant blenders, saw profit fall in the first three months of the year as costs rose faster than sales.The blender’s operating profit of 2.88bn Indian rupees ($35.1mn) fell by 7pc in the first quarter from year-earlier levels. The profit was the lowest for that three-month period in three years.Profit fell as a 5pc rise in sales lagged a 9pc rise in costs, including a 12pc rise in raw-material costs.Costs rose faster than sales for the sixth time in the past seven quarters.Castrol cited inflationary pressures, high input costs and fluctuating foreign exchange for the lower profit.India’s lubricating oil demand slowed by 1pc in the first quarter of the year from year-earlier levels.With costs rising faster than sales, Castrol India's profit margin of 22.3pc in the first quarter fell from 25.2pc the same time a year earlier. .India’s March lube demand rises
Castrol India, one of the country’s largest lubricant blenders, saw profit fall in the first three months of the year as costs rose faster than sales.The blender’s operating profit of 2.88bn Indian rupees ($35.1mn) fell by 7pc in the first quarter from year-earlier levels. The profit was the lowest for that three-month period in three years.Profit fell as a 5pc rise in sales lagged a 9pc rise in costs, including a 12pc rise in raw-material costs.Costs rose faster than sales for the sixth time in the past seven quarters.Castrol cited inflationary pressures, high input costs and fluctuating foreign exchange for the lower profit.India’s lubricating oil demand slowed by 1pc in the first quarter of the year from year-earlier levels.With costs rising faster than sales, Castrol India's profit margin of 22.3pc in the first quarter fell from 25.2pc the same time a year earlier. .India’s March lube demand rises
