Castrol India's Q2 profit rises on sustained demand
Engine oil maker Castrol India reported a 3.1% increase in second-quarter profit on Thursday as the continuing rise in vehicle sales boosted its mainstay business of automobile lubricants and helped offset the rise in costs. The company, 51% owned by oil major BP, said profit after tax rose to 2.32 billion rupees ($27.7 million) in the April-June quarter, from 2.25 billion rupees a year ago. India's two-wheeler sales, which have been rising for three straight quarters, grew 20.4% in the latest quarter, while commercial vehicle sales grew 3.5%.