Castrol India's first quarter profit climbs on stronger engine oil demand
Engine oil and
lubricants producer
Castrol India
reported an 8 per cent rise in first-quarter profit on Monday on the back of growing demand for its products.
Profit at Castrol India, majority-owned by British oil major BP, rose to 2.33 billion rupees ($27.4 million) from 2.16 billion rupees a year ago. Revenue increased 7.3 per cent to 14.22 billion rupees.
Castrol is India's largest private retailer of engine oils. In recent years it focussed on offering more
premium products
for sport utility vehicles - India's most sold category of cars - while also expanding in rural areas.
Analysts say the company will continue to benefit from rising demand for its oil products as the transition to
electric vehicles
in India happens at a slow pace.
EVs form just 2.5 per cent of car sales in the country and 5 per cent of two-wheeler sales. India is aiming for 30 per cent of all new vehicle sales to be electric by 2030.
India's overall auto sales by manufacturers to dealers grew about 2 per cent in the January-March quarter, with sales of large trucks, SUVs and scooters leading the way.
Castrol India supplies its lubricants to India's biggest auto manufacturers across segments, including
Maruti Suzuki
and
Hero MotoCorp
.
"The successful relaunch of Castrol Activ and continued traction in rural markets have been key growth drivers and contributed meaningfully to our volume growth this quarter," Managing Director,
Kedar Lele
, said in a press release.
The company's shares closed 3.2 per cent higher on Monday ahead of the results.
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The Hindu
an hour ago
- The Hindu
F1's next big hope is rising rapidly through the ranks
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In April, during the Saudi Arabian Grand Prix in Jeddah, the 17-year-old Arvid Lindblad made history by becoming the youngest driver to win an FIA Formula 2 race in the sprint race that weekend. The British racer has been part of Red Bull Racing's junior programme for the last few years and is one of the brightest prospects in the junior categories. Interestingly, the teenager has Indian heritage through his mother and is quite familiar with the culture, having grown up in a household where his maternal grandmother took care of him and even prepared Indian food for race meetings. Last year, he visited India with his parents and maternal grandparents. The Red Bull hierarchy, including Dr. Helmut Marko, in charge of the young driver's programme, and team boss Christian Horner, has constantly referred to Lindblad as their next big bet in F1. 'Taking a win, it's just a big confidence booster. It takes away a bit of pressure, but it's not like there's no pressure because one win will not change your career. It was good to get the season started, and I'm very happy,' said Lindblad. 'I think it feels good, but there's still a lot of work to be done. It was a sprint race, not a feature. It gives me confidence that I'm doing a good job and we're making steps forward. However, I'm not naive enough to think this is okay. I mean, I've still got a lot of work to be done. There's still a lot of work to be done. I'm not settling down now just because I won a race,' he explained after his record-breaking feat. Earlier this year, the youngster won the Formula Regional Oceania Championship in New Zealand, which helped him earn enough points to qualify for an FIA Super License, a prerequisite for participating in F1. He will have it once he turns 18 in August. However, in a clear sign of faith in the youngster, Red Bull has requested that the FIA fast-track his application, and the governing body is set to meet next week to determine if the exemption can be granted to him. Apart from his sheer speed and consistent results, it is Lindblad's meteoric rise through the junior ranks that has stood out in his journey so far, despite coming from a non-racing background. Recently, Dr Marko recalled the first time he met the youngster, who was 13 at the time, during a karting world championship event. He was impressed by his maturity and signed him up for the Red Bull Junior programme. 'If I look back, I met him first in Portimão. I met him and his father, and Arvid was leading the conversation. So that also was something which is not normal,' Marko said to the Inside Line F1 podcast. The Red Bull programme is known for being cut-throat, and Dr. Marko's reputation is one of a stern taskmaster and someone ruthless when it comes to dropping drivers who don't deliver. However, Lindblad says he doesn't feel the pressure and instead revels in it. 'I feel I'm pretty good at blocking out the noise on that side. And also, I put a lot of pressure on myself because I want to be in Formula One. That's also why Dr. Marko and I get along quite well. I think sometimes on these junior teams, it's easy to maybe lose sight of why you're there and what you're doing, because you feel the pressure from the bosses to perform. I can flip it a different way and say I'm here because they believe in me, and I want to reach Formula One, and they only want to help me get there. So I don't feel any pressure on that side,' he adds. One of the challenges of advancing through the ranks is not to stay at the same level for too long, but to continually step up. More than half of the current grid has followed the F4, F3, and F2 routes. Seamless progress After acing the karting level, the 17-year-old began single-seater racing properly only two years ago in F4 and has progressed seamlessly to the following levels, reaching F2 in only his third year in cars. 'I feel that in F2, of course, the second and third seasons help a lot, but I think even in the younger categories, it makes an even bigger difference. You can imagine when you're young, there's a lot more to learn. So I think that makes a big difference. I think that a second year or an extra year helps a lot,' Lindblad explains. 'I'm still learning massively. The step I made during the F3 season alone was huge just cause it was my second year in a car and most people are doing that second year in a car in F4, or FRECA (Formula Regional European Championship).' Last year in the FIA F3, Lindblad finished fourth in the standings and briefly led the championship, achieving some impressive wins, including a double win at Silverstone (Sprint and Feature races). In one race that weekend, he came through the field from outside the top-10. Speaking about the targets for the season, Lindblad said it is to start fighting for wins regularly by the second half of the season. 'I think that the goal is similar to F3, to sort of learn the first couple of races. It is a big step. I'm still young and experienced and sort of just chip away at it, but by the second half of the season, I want to be challenging for wins and poles. If I'm being honest, I want to do it earlier than the second half of the season. I'm just really focused on myself and trying to keep learning, working with the team, because I believe that we can.' Shining in Spain Cut to earlier this week, Lindblad already hit his next goal when he clinched his maiden pole position during the Spanish GP weekend in Barcelona and also managed his first feature race win. The victory has put him just eight points behind leader Alex Dunne and is in the thick of the fight for the F2 title. In fact, a few years ago, while he was still in karts, Lindblad told current McLaren driver and title contender Lando Norris that he would be racing against him in F1 soon. 'It was quite funny,' he says, recalling the incident. 'I met him when he came to the kart track in 2021, and we were all racing. It was a big karting race, and he came because he was launching his own chassis. And I remember I was just there with my friend, and I saw him, and I said to my friend, I'm going to go and talk to him, and he was like 'no, you're not brave enough.' 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Being part of Red Bull means he is part of a team that controls four seats in F1 with potential vacancies. But at the same time, Lindblad says that while he is aware of the opportunities, he wants to avoid dwelling too far into the future and is focused on the job at hand. 'I'm quite aware. I see the news reports that Dr. Marko and Christian Horner are mentioning me in a positive light, which is good and means they're pleased with what I'm doing. That gives me confidence and a sign that I am doing things right, and just to keep sort of working the same way.' 'But I am also very aware that it can change very quickly, and them talking about me now is not going to get me to F1 next year. I try not to think about it. I just focus on the performance in F2 because I know that's what will get me to F1. I know, I'm confident that if I do well, there'll be an opportunity for me.' 'Hopefully, I will do F2 once, and then I will be in F1 next year. And then that will be the timeline sorted. 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Time of India
2 hours ago
- Time of India
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Time of India
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Inside the net worth of Steve Jobs' daughter and her Olympian fiancé
The upcoming countryside wedding of 26-year-old Eve Jobs — daughter of the late Apple co-founder Steve Jobs and Laurene Powell Jobs — and 25-year-old British equestrian Harry Charles is shaping up to be one of the most glamorous society events of the year. Tired of too many ads? go ad free now Scheduled for August in England's celebrity-favored Cotswolds, the celebration is expected to draw a star-studded guest list, with names like Princess Beatrice and U.S. Vice President Kamala Harris reportedly on the invite list. The couple, both accomplished equestrians, first appeared publicly at the 2024 Paris Olympics, where Harry clinched a gold medal in team jumping. Their shared passion for horse riding likely drew them together, but it's their striking backgrounds—and family legacies—that have drawn the public's fascination. So, how wealthy is this golden couple? Let's take a look at each of their net worths and how they've made their mark beyond their famous names. Eve Jobs' net worth: As the youngest daughter of Apple co-founder Steve Jobs and philanthropist Laurene Powell Jobs, Eve Jobs was born into immense wealth. However, Laurene has been public about not planning to pass down the family's entire $21.7 billion fortune to her children. She has emphasized that her children must build their own careers — and Eve seems to be doing just that. Credit: X Despite her "nepo baby" status, Eve is steadily forging her own path: She graduated from Stanford University in 2021 with a degree in Science, Technology, and Society. Eve began modeling in 2020 with a Glossier campaign alongside Sydney Sweeney and Naomi Smalls. By 2022, she was signed to DNA Model Management, the same agency that represents Kaia Gerber and Emily Ratajkowski. She has since walked in Paris Fashion Week and starred in campaigns for brands like Louis Vuitton and Enfants Riches Déprimés. In equestrian sports, she has been ranked as one of the top under-25 riders globally and won major competitions like the $130,000 CSI 3 Grand Prix in 2018. Her mother purchased a $15 million equestrian estate in Wellington, Florida, where Eve trains under Missy Clark. While official figures are scarce, Eve's personal net worth is estimated to be in the $500,000 to $1 million range as of 2024. That figure could rise significantly with future modeling and equestrian deals, especially given her social capital and growing presence in both industries. Harry Charles net worth : Harry Charles, Eve's fiancé, is a British equestrian prodigy and Olympic champion. Tired of too many ads? go ad free now Born into a family of elite riders—his father, Peter Charles, also won Olympic gold—Harry is now one of the most celebrated names in show jumping. Highlights of his career include: Making his Olympic debut at the Tokyo Games in 2021 at just 22. Winning team gold at the 2024 Paris Olympics alongside his equestrian hero, Scott Brash. Signing with Rolex as a Testimonee in 2019, making him the youngest rider to represent the luxury brand. Competing in prestigious events across Europe and North America, including the Longines Global Champions Tour and Hickstead Derby. Like many top-level riders, Harry's earnings come from a mix of: Prize money from international show jumping events. Brand endorsements and sponsorships (notably Rolex). Support from equestrian patrons and family-owned stables. While precise data on his earnings is not publicly available, estimates place Harry's net worth in the range of £500,000 to £2 million ($600,000 to $2.5 million USD). His career is on an upward trajectory, and with the recent Olympic win and global visibility, that number is expected to grow.
