Ravi Kirpalani will step down as Managing Director with effect from September 30 but will continue as Director and Whole-time Director from October 1 till December 31, 2015 to facilitate smooth management transition.
The company had a net profit of Rs 124.4 crore in the same quarter last year, Castrol India said in a statement. The company follows January-December financial year.
In an interview to CNBC-TV18, Ravi Kirpalani, Managing Director of Castrol spoke about the growth prospects of the company.
Speaking to CNBC-TV18, Ravi Kirpalani, MD, Castrol India says the base oil price decline has been half that of crude price. The company plans to pass on some of the benefits of reduced base oil prices to consumers.