Tide Water Oil shares rise on June quarter results

NEW DELHI: Shares of lubricant company Tide Water Oil rose nearly 2 per cent in early trade on Friday, a day after the company reported a 7.8 per cent YoY growth in net profit at Rs 27.50 crore for the quarter ended June 30. The company had posted Rs 25.50 crore profit in the same period last year.

Total net income from operation stood at Rs 28,813 lakh against Rs 27,830 lakh reported for the last financial year.

Its repertoire of automotive products includes engine oils for trucks, tractors, commercial vehicles, passenger cars and two and three-wheelers, the company said in a regulatory filing to the Bombay Stock Exchange ( BSE).

At 09:29 am, shares of the company were trading at Rs 5,600 apiece, up 1.64 per cent from its previous close on BSE.