Castrol India fell 1.65% to Rs 382.30 at 09:35 IST on BSE after net profit dropped 33.35% to Rs 137.90 crore on 10.34% fall in total income to Rs 885.90 crore in Q2 June 2017 over Q2 June 2016.
The result was announced after market hours yesterday, 23 August 2017.Meanwhile, the S&P BSE Sensex was up 52.29 points, or 0.17%, to 31,620.30
On BSE, so far 78,000 shares were traded in the counter as against average daily volume of 1.08 lakh shares in the past one quarter. The stock hit a high of Rs 383.30 and a low of Rs 374.85 so far during the day. The stock hit a 52-week high of Rs 495 on 5 October 2016. The stock hit a 52-week low of Rs 354 on 27 December 2016.
The large-cap company has an equity capital of Rs 247.28 crore. Face value per share is Rs 5.
Omer Dormen, Managing Director, Castrol India said that the external environment during the first half of the year has been extremely challenging with the lingering effect of demonetization particularly impacting commercial vehicle oil volume, transition to the GST era and sudden unexpected increase in base oil prices due to a major supply/demand imbalance in the Asia region, all impacting the company's performance, especially during the Q2 June 2017. Despite these strong headwinds, the company delivered volume growth in the personal mobility segment, power brands and industrial segment and retained overall market shares.
In its outlook, Castrol India said that the lubricant market will continue to recover, driven by the positive economic measures, improved COGS and increased vehicle sales and freight movement.
Castrol India manufactures and markets a range of automotive and industrial lubricants.
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