Comments
Castrol India's net profit slipped by 10 per cent in the first quarter of calendar year 2012. The company's net profit stood at Rs 122.9 crore, down from Rs 136.6 crore in the corresponding period last year.
“Since the second half of last year the lubricant market growth has been slower due to the economic slowdown and inflationary pressures. This has been compounded by continuing input cost pressure and rupee depreciation which have impacted margins,” said Mr Ravi Kirpalani, Chief Operating Officer and Automotive Sales Director, Castrol India.
Sales were up 4.1 per cent, at Rs 784.3 crore, from Rs 753.2 crore. Expenditure grew by 9.2 per cent to Rs 630.9 crore, from Rs 577.6 crore. Raw material costs were up 10.1 per cent to Rs 457.7 crore , from Rs 415.8 crore in the same period last year.
In the short-term, rising raw material costs and rupee volatility would remain worry points, the company said.
The Castrol India scrip was up 0.2 per cent to Rs 538.35 a share on the BSE Monday.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.