Tide Water Oil Quarterly Results for June 2016

Tide Water Oil share price surged nearly 2 per cent in the early trade on Friday 12th August 2016, a day after the company reported a 7.8 per cent year on year growth in net profit at Rs 27.50 crore for the quarter ended 30th June 2016.

However, by the end of today’s trading session Tide Water Oil share price closed at Rs 5,403.55, down by 2.32 per cent. The intraday high and the intraday low of the share for the day were Rs 5,624.95 and Rs 5,385.00 respectively. The share price opened at Rs 5,570.00 from a previous closing of Rs 5,520.85. The share price made a 52 week high of Rs 8,321.43 on 7th January 2016 and a 52 week low of Rs 3,709.59 on 8th September 2015.

The company had posted a profit of Rs 25.50 crore in the corresponding quarter of the last year. Total net income of the Company from operation stood at Rs 28,813 lakh as compared to Rs 27,830 lakh reported for the last financial year. Its repertoire of automotive products consists of engine oils for trucks, tractors, commercial vehicles, passenger cars and two and three-wheelers, the company said in a press release to the Bombay Stock Exchange.

Since 1928 Tide Water Oil has been one of the leading players in the Indian lubricant industry. The Company manufactures and markets Veedol brand of lubricants. With a pan-India distribution network, the Company has the spread as well as penetration to provide its products to every nook and corner of the country. The extensive distribution network consists of 50 distributors and over 650 dealers servicing over 50,000 retail outlets. The network is fed by 5 plants and 55 depots located strategically across the country.

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