 "Castrol India dips post Q4 results")
Castrol India has dipped 6% to Rs 383 on the BSE after the company reported a single digit 6.7% year on year (yoy) growth in net profit at Rs 141 crore for the quarter ended December 31, 2015 (Q4CY15), due to lower operational income. The company had profit of Rs 132 crore in the same quarter year ago.
Income from operations during the quarter under review declined by 8% yoy at Rs 791 crore against Rs 859 crore in the corresponding quarter of previous year.
On outlook, Castrol India said, although the drop in crude oil price has translated into lower base oil cost, the company are likely to experience volatility in the cost of goods due to volatile Rupee exchange rate.
“The challenging external environment in the manufacturing sector and increased competitive pressures impacted the overall volume growth in the industrial segment as well,” said Omer Dormen, Managing Director, Castrol India.
The trading volumes on the counter nearly doubled with a combined 446,434 shares changed hands on the BSE and NSE till 12:02 AM.
Income from operations during the quarter under review declined by 8% yoy at Rs 791 crore against Rs 859 crore in the corresponding quarter of previous year.
On outlook, Castrol India said, although the drop in crude oil price has translated into lower base oil cost, the company are likely to experience volatility in the cost of goods due to volatile Rupee exchange rate.
“The challenging external environment in the manufacturing sector and increased competitive pressures impacted the overall volume growth in the industrial segment as well,” said Omer Dormen, Managing Director, Castrol India.
The trading volumes on the counter nearly doubled with a combined 446,434 shares changed hands on the BSE and NSE till 12:02 AM.
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