Castrol India Ltd announced its first half and second quarter (April-June) results of 2016. The company clocked its highest-ever quarterly profit, continuing to build on operational momentum driven by volume growth and a favourable cost of goods environment.
The quarter’s profit from operations was up by 13 per cent as against same quarter last year. Profit before tax during the quarter under review was also up by 13 per cent at Rs 319 crore while profit after tax was up by 12 per cent at Rs 206.9 crore as compared to the same period last year. For the six month period of January-June 2016, profit from operations was up by 23 per cent to Rs 549 crore as against Rs 446 crore during the same period in the previous year.
Commenting on the results, Omer Dormen, Managing Director, Castrol India Ltd, said, “This is a robust set of results, building upon the strong momentum of the previous quarter. I am particularly satisfied with the overall volume growth of 7 per cent in the first half, which is in line with our expectations and reconfirms that we are on the right track with our strategy and plans.”
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