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Castrol India net profit during the September-end quarter dropped by over 15 per cent to 150.4 crores. During the corresponding quarter in the previous year, the company had registered a net profit of Rs 178.2 crore, according to its regulatory filing.
The company which follows January-December financial year, reported the total income for the quarter under review at Rs 945.5 crores, more than Rs 894.7 crores in July-September quarter of 2017-18.
In a separate statement, the company said, “apart from the input cost increase, profit after tax at Rs 150 crore was also adversely impacted by lower other income from a one-off property sale during the same quarter in the previous year”.
“Our focus on strategy is delivering profitable volume growth ahead of the market across segments, setting us up for higher growth in future,” Orner Dormen, Managing Director, Castrol India Limited said.
Dormen also added, “We have made very good progress with new customer acquisitions and OEM relationships having signed a strategic agreement with Mahindra Tractors recently. This progress all underpins our commitment to growing profitably.”
