Indian Oil Reports 3-Fold Jump In Q3 Net Profit

For the December-ended quarter, Indian Oil Corporation Limited (IOC) reported a 315.15 percent increase in standalone net profit at Rs 2,339.02 crore from Rs 563.42 in the previous quarter. For the October-December 2018 period, its net profit was reported at Rs 716.82 crore.

On a consolidated basis, the net profit was at Rs 2,695.09 crore when compared to Rs 767.66 crore in December 2018.

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The state-owned company's revenue was up by 11.6 percent to Rs Rs 1.24 lakh crore against Rs 1.11 lakh crore in the September-ended quarter.

Standalone earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 86.2 percent sequentially to Rs 6,650 crore against Rs 3,572 crore. EBITDA margin stood at 5.3 percent when compared to 3.2 percent in the previous quarter.