It said income from operations during the quarter is not comparable with last year's numbers due to change in treatment of indirect taxes after GST implementation.
PTI
Lubes maker Castrol India today reported a tepid 2 per cent growth in net profit at Rs 181.8 crore for the first quarter ending March on lower revenue which declined by 8 per cent to Rs 927.1 crore.
It said income from operations during the quarter is not comparable with last year's numbers due to change in treatment of indirect taxes after GST implementation.
Accordingly, without change in indirect tax treatment, sales rose 5 per cent to Rs 927.1 crore driven by volume growth across categories, Omer Dormen, managing director at Castrol India.