Castrol India tumbles after muted Q1 results

Castrol India fell 4.21% to Rs 186.80 at 11:39 IST on BSE after net profit rose 1.6% to Rs 181.80 crore on 5.1% increase in net sales to Rs 927.10 crore in Q1 March 2018 over Q1 March 2017.

The result was announced after market hours yesterday, 3 May 2018.

Meanwhile, the S&P BSE Sensex was down 165.15 points, or 0.47% to 34,937.99.

On the BSE, 5.32 lakh shares were traded in the counter so far compared with average daily volumes of 74,000 shares in the past two weeks. The stock had hit a high of Rs 192.55 and a low of Rs 181.45 so far during the day. The stock hit a 52-week high of Rs 225.65 on 15 May 2017. The stock hit a 52-week low of Rs 172.25 on 6 February 2018.

In its outlook, Castrol India said that with the continued increase in crude oil price and depreciation of the Indian rupee there is likelihood of further volatility in the cost of goods.

The company added that it continues to remain optimistic about the Indian lubricant market and is confident about continuing to deliver robust business performance aligned to its long term strategy. This is underpinned by continued investments in technology and brands, aggressive expansion of distribution network, innovative marketing programmes and delivery of premium customer experience across multiple touch points.

Castrol India is the leading automotive and industrial lubricant manufacturing company in india.

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