2 weeks Ago
Indian Oil Corporation Q2 Results: Indian Oil Corporation (IOC) on Monday, October 28 reported a staggering 98.6 per cent year-on-year (YoY) decline in its standalone net profit to ₹ 180.01 crore for the quarter ended September 2024.
The figure stood at ₹ 12,967.32 crore in the same period last year. Meanwhile, revenue from operations dipped 3.
5 per cent YoY to ₹ 1,95,148.94 crore from ₹ 2,02,312.04 crore reported in the corresponding quarter last fiscal.
On a sequential basis, the profit tumbled by 93.18 per cent from ₹ 2,643.18 crore reported in the June 2024 quarter.
The revenue on a quarter-on-quarter (QoQ) basis declined 9.64 per cent from ₹ 2,15,988.76 crore in the preceding quarter.
The average Gross Refining Margin (GRM) for the period April - September 2024 stood at $4.08 per bbl as against $13.12 per bbl reported in April - September 2023.
The core GRM or the current price GRM for the period April - September 2024 after offsetting inventory loss/gain stood at $2.97 per bbl. Following the earnings announcement, the stock plunged sharply and ended flat at ₹ 147.
10, up 0.51 per cent..
