Mumbai: Castrol India Limited on Tuesday declared its audited results for the financial year ended 31st December 2007. The net profit of the company has gone up by 41% to Rs218 crores compared to its net profit of Rs154 crores for the financial year 2006.
The Board of Directors at its Meeting held on Tuesday, recommended a final dividend of Rs9.50 per share for the year ended 31 Dec 2007 in addition to an interim dividend of Rs4.50 per share, totaling to Rs14 per share for the full year 2007.
Commenting on the results, Naveen Kshatriya, managing director, Castrol India Limited said, “This year the company has recorded remarkable increase in profits through twin approach of growth in top line and effective cost management. This reduction was achieved through effective procurement strategy which gave us a competitive advantage. We have continued to enjoy patronage of our discerning customers who recognize the superior products and services we offer.”
“Today our core lubricant business is driven even more by value than volume, as we focus on advanced formulations required for modern automobiles and machines. Castrol as always has shaped the market with superior technology, contemporary and consumer relevant products,” he added.
Some key points from the results
• Net profit for the year increased by 41% to Rs218 crores against Rs154 crores the previous year
• Gross turnover for the year stood at Rs2216 crores.
• Operating margin increased to 17%
• Per share earning increased to Rs17.67 from Rs12.50 in the previous year
• Return on Net Worth increased to 52%