Castrol India Q4 net profit rises 28 pc to Rs 271 cr

Castrol India on Friday reported a 28.03 per cent increase in its profit after tax (PAT) at Rs 271.3 crore for the fourth quarter ended December 31, 2019.

The automotive and industrial lubricant manufacturing had reported PAT of Rs 211.9 crore for the October-December period of 2018.

Total income, however, declined to Rs 1,028 crore for the quarter from Rs 1,059 crore in the year-ago period, Castrol India said in a regulatory filing.

For the year ended December 2019, the company posted a PAT of Rs 827.4 crore as compared to Rs 708.3 crore in 2018.

Total income stood at Rs 3,941.6 crore for last year, compared with Rs 3,988.9 crore in 2018.

The company follows a January-December financial year.

"We delivered a resilient overall performance in 2019. Focused investments in our people, brands, distribution network, customer acquisition and advocacy efforts have helped us deliver on our strategic priorities enabling us to grow profits in a difficult business environment," Castrol India Managing Director Sandeep Sangwan said.

The company's board recommended a final dividend of Rs 3 per share for financial year ended December 2019. This is in addition to an interim dividend of Rs 2.50 per share which was announced earlier.

The final dividend, if approved by the shareholders of the company, shall be paid on or before May 27, 2020, the company said.

Castrol shares on Friday ended 4.16 per cent higher at Rs 135.15 on the BSE.