Indian Oil Corporation reported a sharp improvement in its September-quarter earnings, with standalone net profit rising to Rs 21,630 crore from a loss of Rs 2,661 crore in the preceding quarter. The profit figure was significantly higher than the market estimate of Rs 6,268 crore.
The state-run oil marketing company's revenue stood at Rs 2.50 lakh crore, broadly in line with analysts' estimates of Rs 2.5 lakh crore. However, revenue declined 4.6% sequentially from Rs 2.62 lakh crore in the June quarter. Operating performance also saw a substantial improvement. Indian Oil's Ebitda surged to Rs 30,297 crore in the September quarter, compared with Rs 1,947 crore in the previous quarter. The figure was considerably higher than the estimate of Rs 11,600 crore.
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The company's Ebitda margin expanded to 12.1% from 0.7% in the June quarter, reflecting a sharp improvement in operating profitability.
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Indian Oil Corporation Q2 Result Highlights (QoQ)
- Net Profit stands at Rs 21,630 crore versus net loss of Rs 2,661 crore (significantly above estimate of Rs 6,268 crore).
- Revenue declines 4.6% at Rs 2.50 lakh crore versus Rs 2.62 lakh crore (in line with estimate of Rs 2.50 lakh crore).
- EBITDA stands at Rs 30,297 crore versus Rs 1,947 crore (significantly above estimate of Rs 11,600 crore).
- EBITDA Margin up 1,140 Bps at 12.1% versus 0.7%.
Indian Oil Share Price Today
The results were announced after market close. Shares of Indian Oil closed as much as 0.2% lower during the day at Rs 130.15 apiece on the NSE. This compares with a 0.15% advance in the benchmark Nifty 50. The shares have risen 0.82% in one week and fallen 3.54% in one month. The shares are down 21.54% year-to-date and 20.4% in one year.
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