Castrol India Ltd reports Q2CY21 PAT of Rs 140 crore equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Castrol India jumped 4.39% to Rs 130.75 after the lubricants maker reported 94.6% jump in net profit to Rs 243.60 crore on 65.5% increase in net sales to Rs 1138.70 crore in Q1 March 2021 as compared to Q1 March 2020.
Profit before tax in the first quarter stood at Rs 332.30 crore, up by 96% from Rs 169.50 crore in the same period last year.
Sandeep Sangwan, managing director, Castrol India, said: Focused investments, interventions and actions taken in the second half of 2020 towards brand building with increased marketing and advertising spends, new product introductions as well as corrective pricing have yielded a positive impact on overall topline growth. This has been aided by improving demand trends especially in tractor and SUV sales in 1Q 2021.
Castrol India shares jump over 7% post-earnings; net income nearly doubled in Q1
File photo
Shares of Castrol India gained over 7 percent in morning trade on Tuesday after the lubes player on Monday reported 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..
The stock jumped 7.10 percent to Rs 134.15 on the BSE. At the NSE, it zoomed 7.26 percent to Rs 134.40.
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.
Robust March quarter results drive Castrol India stock 7% higher business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Castrol India reported 94.6% jump in net profit to Rs 243.60 crore on 65.5% increase in net sales to Rs 1138.70 crore in Q1 March 2021 as compared to Q1 March 2020.
Profit before tax in the first quarter stood at Rs 332.30 crore, up by 96% from Rs 169.50 crore in the same period last year.
Sandeep Sangwan, managing director, Castrol India, said: Focused investments, interventions and actions taken in the second half of 2020 towards brand building with increased marketing and advertising spends, new product introductions as well as corrective pricing have yielded a positive impact on overall topline growth. This has been aided by improving demand trends especially in tractor and SUV sales in 1Q 2021.