Castrol India Share Price Jumps As Fourth Quarter Net Profit Rises

Castrol India reported 7.1% on the year top line growth in the fourth quarter.

Castrol India share price jumped 9.20% to Rs 192.70 apiece, the highest level since Jan. 10. (Photo source: Unsplash)

Castrol India Ltd.'s share price jumped over 9%, as the company reported a rise in net profit during fourth quarter. Its consolidated net profit rose 12.2% on the year to Rs 271 core in the period between October–December from Rs 242 crore. This compared to the Rs 223-crore estimate by analysts in a Bloomberg's survey.

Castrol India reported 7.1% on the year top line growth in the fourth quarter. The revenue for Castrol India stood at Rs 1,354 crore, almost matching Bloomberg's estimate for third quarter.

The operating profit of Castrol India rose 14.2% on the year to Rs 376 crore from Rs 329 crore. Castrol India's business margin stood at 27.8% versus 26%.

Castrol India Share Price

Castrol India share price jumped 9.20% to Rs 192.70 apiece, the highest level since Jan. 10. The stock was trading 7.25% higher at Rs 189.37 apiece as of 9:44 a.m., as compared to a 0.88% advance in the NSE Nifty 50.

The stock declined 4.24% in 12 months. Total traded volume so far in the day stood at 8.9 times its 30-day average. The relative strength index was at 54.78.

Out of four analysts tracking the company, one maintains a 'buy' rating, two recommend a 'hold' and one suggests 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 35.0%.

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Ananya Chaudhuri
Ananya Chaudhuri covers financial markets news and trends at NDTV Profit. S... more
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