Automotive and industrial lubricants manufacturer Castrol India on Monday said its net profit in

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the financial year ended December 31 grew 20 per cent at Rs 262.3 crore over the corresponding period a year ago.

The company had a net profit of Rs 218.4 crore in the financial year ended December 2007, Castrol India said in a filing to the Bombay Stock Exchange.

Net sales of the company, in which UK-based Castrol (part of BP Group) holds a 70.92 per cent stake, rose to Rs 2,205.7 crore in the financial year from Rs 1,888.3 crore a year ago.

However, for the quarter ended December 31, Castrol India posted a net profit of Rs 47 crore, a 20 per cent decline over the corresponding period a year ago. It had a net profit of Rs 58.8 crore in the same quarter last year. The company expects its volumes to be affected in the short term.

Meanwhile, Castrol India on Monday announced a final dividend of Rs 9 per share for FY08.