Castrol India surges 7 per cent in July 28 trade

The shares of Castrol India opened in the green on July 28, owing to positive results. The shares of the company have surged by 7 per cent on an intraday basis and have closed at Rs 434.05. Shares which previously closed at Rs 419 on July 27, opened at Rs 422.40. Shares of the company in the last 5 days have surged by 6 per cent and in the last 3 months have gained 13 per cent.

Company post market hours, on July 27 declared its Q2CY16 results. As compared to Q2CY15, net income from operations has increased by 5 per cent and stands at Rs 970.80 crores as compared to 923.6 crores. EBITDA in Q2CY16, has increased by 15 per cent and stands at Rs 317.3 crores. Net Profit has also seen a double digit jump. Profits have increased by 12 per cent and stand at Rs 206.9 crores as compared to previous Rs 184.5 crores.

New product launches have helped volume growth, and company has benefited from a softer crude price environment, as its key inputs are crude derivatives. With the increase in vehicle sale in the month of June, prospects of the company’s future earnings look positive.

Castrol India Ltd., is an India based automotive and industrial lubricant manufacturing company. Castrol India manufactures and markets a range of automotive and industrial lubricants. It markets its automotive lubricants under two brands - Castrol and BP. The product line of the company includes lubricants, metalworking fluids, cleaners and corrosion preventives.