Castrol India gains after strong Q2 results

Castrol India rose 1.99% to Rs 141 after the company's standalone net profit jumped 114.06% to Rs 140 crore on a 81.32% surge in revenue from operations to Rs 889.60 crore in Q2 2021 over Q2 2020.

Standalone profit before tax soared 114.91% to Rs 190.20 crore in Q2 2021 as against Rs 88.50 crore in Q2 2020. The Q2 earnings was declared post trading hours yesterday, 2 August 2021.

Owing to the COVID-19 second wave, the quarter saw challenges in the form of localized lockdowns, muted demand, as well as a sharp rise in input costs. The timely pricing interventions, along with agility and responsiveness helped the firm navigate this dynamic market situation. Castrol India continued to invest in its brands with increased marketing and advertising spends to support value delivery to customers and reinforce brand salience.

The board of Castrol India at its meeting held on Monday, 2 August 2021 recommended an interim dividend of Rs 2.50 per share. The record date for the purpose of interim dividend is 12 August 2021.

Castrol India manufactures and markets automotive and industrial lubricants and specialty products. The company's products include lubricating oils, greases and brake fluids.

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