Indian Oil Q3 Results: Profit Falls 37%
Net profit fell 37.8% to Rs 8,063.4 crore in the October-December quarter, as against Rs 12,967.3 crore in the previous quarter.
Indian Oil Corp.'s net profit declined in the third quarter of fiscal 2024, though it surpassed analysts' estimates.
Net profit fell 37.8% to Rs 8,063.4 crore in the October-December quarter, as against Rs 12,967.3 crore in the previous quarter, according to its exchange filing issued on Wednesday. This compares with a Rs 4,786.8-crore consensus estimate of analysts tracked by Bloomberg.
Indian Oil Q3 FY24 Highlights (Standalone, QoQ)
Revenue up 10.2% to Rs 1.99 lakh crore vs Rs 1.79 lakh crore (Bloomberg estimate: Rs 1.99 lakh crore).
Ebitda fell 27.3% to Rs 15,488 crore vs Rs 21,313 crore (Bloomberg estimate: Rs 9,172.32 crore).
Margin at 7.77% vs 11.85% (Bloomberg estimate: 4.6%).
Net profit fell 37.8% to Rs 8,063.4 crore vs Rs 12,967.3 crore (Bloomberg estimate: Rs 4,786.83 crore).
Shares of Indian Oil rose 3% higher to Rs 143.15 apiece, after the results were announced, as compared with a 0.93% rise in the benchmark NSE Nifty 50 as of 3:10 p.m.
