Castrol FY '08 net up 20%

Mumbai: Automotive and industrial lubricants manufacturer Castrol India on Monday said its net profit in the financial year ended December 31, 2008 grew 20 per cent at Rs 262.3 crore over the corresponding period a year ago.

Six hot stocks

The company had a net profit of Rs 218.4 crore in the financial year ended December 2007, Castrol India said in a filing to the Bombay Stock Exchange.

Net sales of the company, in which UK-based Castrol Ltd (part of BP Group) holds a 70.92 per cent stake, rose to Rs 2,205.7 crore in the financial year from Rs 1,888.3 crore a year ago. However, for the quarter ended December 31, 2008, Castrol India post ed a net profit of Rs 47 crore, a 20 per cent decline over the corresponding period a year ago. It had a net profit of Rs 58.8 crore in the same quarter last year.

More India business stories | Get the latest Sensex update

Meanwhile, Castrol India today announced a final dividend of Rs 9 per share for FY'08. Shares of Castrol India were trading at Rs 330.95, down 0.08 per cent, in afternoon trade on the BSE.