Castrol India's standalone net profit slumped 64.2% to Rs 65.40 crore on 52.08% fall in total income to Rs 505.80 crore in Q2 June 2020 over Q2 June 2019.
The announcement was made after market hours yesterday, 28 July 2020. Shares of Castrol India rose 0.94% to settle at Rs 112.95 yesterday.
Castrol India said that disruptions owing to the Covid-19 pandemic escalated in the second quarter of 2020, resulting in a continued slowdown of the economy including decline in lubricants consumption.
Robust working capital management, along with judicious cost management and efficiency programmes have helped us maintain a current strong liquidity and financial position to be able to meet any near-term challenges, Castrol India said.
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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