For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Indian Oil Corp's Net Profit Sinks 83% In Q2

|

On Thursday, Indian Oil Corporation (IOC) reported a significant drop of 82.65 percent fall in profit for the September-ended quarter at Rs 563.42 crore from Rs 3,246.93 crore of the same period in the previous year.

The state-owned company's revenue from operations also fell by 12.66 percent to Rs 1.32 lakh crore for the second quarter of 2019-20 on a year-on-year basis.

Indian Oil Corp's Net Profit Sinks 83% In Q2
Indian Oil Corporation: Quotes, News
BSE 133.00BSE Quote0.5 (0.38%)
NSE 132.55NSE Quote0 (0.00%)
 

The large variation was on account of inventory loss in the September 2019 quarter and an inventory gain in the same quarter a year ago, the company said.

The oil retailer's total income for the period under review fell by 12.83 percent to Rs 1.33 lakh crore from Rs 1.52 lakh crore a year ago.

The average gross refining margin (GRM) for April-September 2019 was at $2.69 per barrel when compared to $8.45 a barrel in the previous year.

Shares of IOC closed 2.14 percent lower at Rs 144 on NSE.

Story first published: Thursday, October 31, 2019, 16:29 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more