Indian Oil Q3 Results: Profit Surges To Nearly 16-Fold, But Misses Estimates
Indian Oil Corporation's profit surged sharply in Q3 FY25, but the oil marketing company's bottom line of Rs 2,873.53 crore missed estimates due to inventory losses and weaker-than-expected margins.
Indian Oil Corp.'s profit jumped significantly during the third quarter of fiscal 2025, but missed analysts' estimates. The oil marketing company's bottom line stood at Rs 2873.53 crore during the three months ended Dec. 31, 2024, compared to Rs 180 crore in the previous quarter.
Analysts polled by Bloomberg had estimated a Rs 5485-crore net profit. The sharp miss compared to analyst estimates is owing to higher-than-expected inventory losses. The calculated core GRMs stood at $6.6 per barrel, of which inventory loss stood at $3.7 per barrel.
Indian Oil Q3 FY25 Highlights (Standalone, QoQ)
Revenue up 11.01% to Rs 1,93,899.5 crore versus Rs 1,73,847.58 crore (Bloomberg Estimate: Rs 1,92,967.8 crore).
Ebitda up 88.64% to Rs 7,116.59 crore versus Rs 3,772.41 crore (Bloomberg Estimate: Rs 11,659.7 crore).
Margin at 3.67% versus 2.16% up 150 basis points (Bloomberg Estimate: 6%).
Net profit up nearly 16 times to Rs 2,873.53 crore vs Rs 180.01 crore (Bloomberg Estimate: Rs 5,485 crore).
The jump in company's revenues were driven by higher sales volumes. The oil marketing company's domestic sales grew 13% year on year to 24.78 million metric tonnes in the third quarter, while exports jumped up 31% to 1.345 million metric tonnes.
