Castrol India PAT declines 23 per cent sequentially

Castrol India reported its results for the quarter ended June 30, 2017 on Wednesday.

The company's total sales for Q2CY17 came in at Rs 1007.7 crore, which represents a 0.4 per cent sequential decline and 9.6 per cent YoY decline.

Its operating profit (EBIT) for the quarter amounted to Rs 197.7 crore and its EBIT margin stood at 19.6 per cent.

The company reported PAT of Rs. 137.9 crore, which represents a sequential QoQ decline of 23 per cent and a YoY decline of 33.4 per cent.

The company has declared an interim dividend of Rs 4.5 per share (Face Value: Rs. 5)

The company sees a positive impact of GST implementation in the long term. Also, the management expects that the Indian economy and the lubricant market will continue to recover, driven by the positive economic measures, improved COGS and increased vehicle sales and freight movement.

Castrol India Limited is engaged in providing coke and refined petroleum products. The company is involved in manufacturing lubricating oils.

The stock today opened at Rs 390 and touched an intra-day low of Rs 383.5 and finally closed at Rs 388.7 on the BSE.