14 hours ago
CITCO petrol pumps record increased profit
Chandigarh: CITCO petrol pumps have recorded a significant profit of Rs 1,747.68 lakh during the financial year 2024–25, with total sales of Rs 68,386.01 lakh. The profit increased from Rs 1,176.99 lakh in financial year 2022-23 to Rs 1,527.60 lakh in the financial year 2023-24, showing a growth of Rs 350.61 lakh.
"This increase in profit indicates a positive trend in the company's performance. The company's expansion, including the start of three new petrol pumps since 2021, contributed to this considerable increase in profits. This impressive growth is the outcome of a series of strategic and customer-focused initiatives undertaken by CITCO," said a CITCO spokesperson.
"One of the key milestones was the introduction of a CNG facility at the Dhanas petrol pump in July 2024, offering an eco-friendly fuel alternative to meet the growing demand for cleaner energy.
Additionally, the modernisation of the CITCO petrol pump in Sector 56 further improved customer service, operational efficiency, and overall user experience," the spokesperson added.
To cater to an expanding customer base, CITCO is now extending its petrol pump in Industrial Area Phase-I, which will feature state-of-the-art facilities to enhance the fuelling experience.
Further, CITCO, in association with IOCL, has entered into an understanding with Chandigarh Transport Undertaking (CTU) to supply diesel directly into CTU depots, which will further boost the sales and profits of CITCO in the coming days. Efforts are also being made to install EV charging stations across the CITCO petrol stations in the coming days.
