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Castrol India Share Price Jumps 6% After q3 Profit Rises To Rs 204 Crore; Board Declares Dividend

Castrol's net profit was up 8.6 percent to Rs 204.60 crore in the quarter ended September 2020 against Rs 188.40 crore in the year-ago period.

Oct 28, 2020 / 10:17 AM IST
 
 
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Castrol India share price jumped over 6 percent intraday on October 28 after the company declared its September quarter results.

Castrol's net profit was up 8.6 percent to Rs 204.60 crore in the quarter ended September 2020 as against Rs 188.40 crore in the year-ago period.

Revenue from operations increased by 4 percent to Rs 883 crore against Rs 849 crore of Q3 2019. Profit before tax increased by 17 percent (Rs 278 crore against Rs 237 crore of Q3 FY2019).

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At 0954 hours,the stock was trading at Rs 115.15, up Rs 6.35, or 5.84 percent. It has touched an intraday high of Rs 116.80 and an intraday low of Rs 114.

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The scrip witnessed a spurt in volume by more than 1.87 times and was trading with volumes of 157,300 shares, compared to its five-day average of 85,383 shares, an increase of 84.23 percent.

At its meeting on October 27, 2020, the board recommended an interim dividend of Rs 2.50 per share. The record date for the interim dividend is November 6, 2020 which would be paid on or before November 26, 2020, the company said in an exchange filing.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has zero promoter pledge with no debt. FII / FPI or institutions have been increasing their shareholding.

Moneycontrol technical rating is bullish with moving averages being bullish and technical indicators being neutral.

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​
Moneycontrol News
first published: Oct 28, 2020 10:17 am

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