Castrol India Q4 net profit rises 16.55 percent

Castrol India Q4 net profit rises 16.55 percentNew Delhi, April 27 : Castrol India Wednesday posted a 16.55 percent increase in its net profit at Rs. 136.6 crore for the quarter ended March 31 as against Rs. 117.2 crore during the like period of the last fiscal.

The net sales of the company stood at Rs. 750.7 crore during the quarter under review as compared to Rs. 654.0 crore during the corresponding period of the last fiscal, the company said in a statement.

"This is a good performance with net sales and profit after tax showing a sharp increase. Margins have improved despite significant raw material cost increase, primarily driven by pro-active pricing," said Naveen Kshatriya, vice chairman of Castrol India Limited.

"We also grew volumes during the quarter under review, reflecting the underlying robustness of our strategy and the intrinsic strength of our brand," he added.

At the Bombay Stock Exchange, the shares of the company were up 0.41 percent to trade at Rs. 482. (IANS)