Castrol India fell 0.51% to Rs 455.15 at 12:23 IST on BSE after net profit fell 2.37% to Rs 139.80 crore on 2.75% fall in total income to Rs 777.20 crore in Q3 September 2016 over Q3 September 2015.
The result was announced after market hours yesterday, 27 October 2016.Meanwhile, the S&P BSE Sensex was up 40.23 points, or 0.14%, to 27,956.13
On BSE, so far 2.89 lakh shares were traded in the counter as against average daily volume of 11.88 lakh shares in the past one quarter. The stock hit a high of Rs 461.95 and a low of Rs 443.85 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 360.10 on 1 March 2016. The stock had underperformed the market over the past 30 days till 27 October 2016, falling 3.46% compared with 1.33% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 3.55% as against Sensex's 0.48% decline.
The large-cap company has an equity capital of Rs 247.28 crore. Face value per share is Rs 5.
Commenting on the results, Omer Dormen, Managing Director, Castrol India said that the company continued to grow volume year on year in Q2 September 2016 across key segments. The volume growth was led by personal mobility and power brands in line with strategy and also strong growth in industrial segment, Omer Dormen said. The company witnessed softer volume in heavy duty segment due to heavy monsoon in some parts of the country. Marine segment volume dipped during the quarter due to continued pressure on marine business globally. The company continues its focus on volume growth and investment behind power brands, he said. The commercial vehicle segment has seen a healthy double digit growth in the key brands which the company continues to invest in, he added.
In its outlook, Castrol India said that looking ahead, in the longer term following the good monsoon and a strong pick up in vehicle sales trend, the company continues to remain optimistic about the Indian lubricant market and its business growth. The company is in a strong position to benefit from growth prospects on account of its strong brands, enduring relationships with key stakeholders and continued commitment of staff, it said.
Castrol India manufactures and markets a range of automotive and industrial lubricants.
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