Castrol India shares jump over 7% post earnings

NEW DELHI: Shares of gained over 7 per cent in morning trade on Tuesday after the company reported near doubling of net income for the quarter to March. The stock jumped 7.10 per cent to Rs 134.15 on the BSE.

At the NSE, it zoomed 7.26 per cent to Rs 134.40.

Castrol India 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.

The company delivered robust revenue and profit growth with Q1 revenue from operations growing 66 per cent to Rs 1,138.7 crore and net profit nearly doubling to Rs 243.6 crore from Rs 125.2 crore, Castrol India Managing Director Sandeep Sangwan said in a statement.