Mumbai, April 28 (IANS) Castrol India said Wednesday its net profit rose 16.55 percent to Rs.136.6 crore for the fourth quarter of 2010-11 ended March 31.
The net sales of the company stood at Rs.750.7 crore during the quarter 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.
The Castrol India share price Wednesday closed 0.18 percent higher at Rs.480.90 at the Bombay Stock Exchange.