Castrol India dips 7% on disappointing Q4 results

The stock dipped 7% to Rs 181 after the company reported single digit 2% growth in net profit at Rs 1.82 billion in Q4FY18, due to sharp rise in input costs

Castrol India dipped 7% to Rs 181 on the BSE in early morning trade after the company reported single digit 2% year-on -year growth in net profit at Rs 1.82 billion in March quarter (Q4FY18), due to sharp rise in input costs. It had profit of Rs 1.79 billion in the same quarter year ago.

On a comparable basis without the change in indirect tax treatment, net sales in the quarter under review increased by 5% over the same period last year at Rs 92.7 billion driven by volume growth across categories.

Analysts on an average had expected