IOC Q1 results, standalone net profit stood at Rs 2643 crore

State-owned Indian Oil has reported a fall of 81% in standalone net profit to Rs 2,643 crore in Q1, down from Rs 13,750 crore a year ago in the quarterly results of FY25.

 The Oil PSU company’s revenue fell by 2% YoY to Rs 2.15 lakh crore and revenue from operations in the reporting period declined 2% YoY to Rs 2.15 lakh crore.

The company reported an EBITDA of Rs 8,636 crore for the first quarter, while EBITDA margins stood at 4.5%. Total expenses during the April-June 2024 period rose to Rs 2.13 lakh crore against Rs 2.03 lakh crore in the corresponding period of last year.

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The profit before tax (PBT) for the reporting quarter cut down by 81% YoY to Rs 3,453 crore to Rs 18,073 crore in the previous year's quarter.

The average gross refining margin (GRM) for the period April-June 2024 stood at $6.39/bbl against $8.34/barrel in the April-June 2023 period.

 

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In addition, the Board of Indian Oil at its meeting held on 30t July 2024 has accorded stage - 1 approval for the construction of Greenfield Terminal at Bihta, Patna, Bihar on BarauniKanpur product Pipeline (BKPL) and Patna-Motihari-Baitalpur Pipeline (PMBPL) at an estimated cost of Rs. 1698.67 crores as combined re-sitement of existing Marketing Terminal and Pipeline pump station in Patna and for undertaking pre-project activities related thereto, as of exchange filing made.

The shares of the company are trading in the green session up by 1.67%.

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