Castrol India today posted 4 per cent jump in net profit at Rs 179 crore in the quarter ended March 31, 2017. The company’s net profit was Rs 172.4 crore in the quarter ended on March 31, 2016, Castrol India Ltd stated in a BSE filing. According to the statement, the company’s total income rose to Rs 1,030.6 crore in the quarter under review as compared to Rs 1,000.3 crore year ago.
Commenting on the results, Castrol India Limited Managing Director Omer Dormen said in a statement, “Castrol India delivered a strong set of results for the quarter ended March, 2017 despite the lingering effects of demonetisation and rising cost of goods.”
The company stated that the environment continues to be challenging as the country is going through some major structural changes in its economy including the upcoming GST implementation. According to company, these may lead to short term pressures but will positively impact the economy.