<p>Castrol India posted on Friday (06 November) an increase in its profit after tax of 23.1 per cent at Rs 206.5 crore for July-September 2015 while profit after Tax was Rs 143.2 crore during the same period in the previous year.<br><br>For the nine month period January – September 2015, Profit after Tax was up by 38.5 per cent to Rs 474.4 crore as against Rs 342.5 crore during the same period in the previous year.<br><br>Omer Dormen, Managing Director, Castrol India Limited, said, “After sharp decline in the first two quarters due to sluggish manufacturing activity and increased competition, the Industrial business is seeing some improvement as a result of new customer wins especially in the wind and steel segments. On a like for like basis, our Sales Volume during third quarter remained flat versus same period last year. Year-to-date, the Industrial business delivered double digit Gross Margin and Operating profit growth over the same period last year, driven largely through increased focus on product mix.”<br><br>The financial results for the third quarter demonstrate a solid performance, building on operational momentum and continued premiumization of our portfolio, aided by a more favorable cost of goods environment, Dormen added.<br><br>(BW Online Bureau)</p>
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