Analysts on an average had expected profit of Rs 1.88 billion on net sales of Rs 95.7 billion for the quarter.
With the continued increase in crude oil price and depreciation of the Indian rupee there is likelihood of further volatility in the cost of goods, Castrol India said in a statement.
At 10:29 am; the stock was trading 5% lower at Rs 185 on the BSE, as compared to 0.33% fall in the S&P BSE Sensex. The trading volumes on the counter jumped more than five-fold with a combined 3.43 million shares changed hands on the NSE and BSE so far.
Castrol India was quoting close to its 52-week low of Rs 172 touched on February 2, 2018 on the BSE in intra-day trade.