Robust March quarter results drive Castrol India stock 7% higher

Castrol India's Managing Director Sandeep Sangwan attributed the good set of numbers to the focused investments, interventions and actions taken in the second half of 2020

Shares of Castrol India surged over 7 per cent on the BSE in Tuesday's intra-day session following an impressive set of March quarter numbers. The leading lubes player on Monday reported a near doubling of net income for the quarter to March at Rs 243.6 crore as against Rs 125.2 crore a year ago, driven by robust revenue growth.

Revenue grew to Rs 1,138.7 crore in the reporting quarter from Rs 688 crore a year ago. Its revenue for the full year ended December 2020 was Rs 2,996.9 crore when it had a net income of Rs 582.9 crore.