Indian Oil Q3 Results: OMC's net profit at Rs 448 crore, revenue exceeds analysts' expectations

The state-run oil marketing company (OMC) had reported a net loss of Rs 272 crore for the corresponding period a year ago.

IOC shares ended flat with a positive bias at Rs 81.7 apiece on BSE - Image Source: Reuters

Indian Oil Corporation (IOC) on Tuesday reported a net profit of Rs 448 crore for the October-December period, driven mainly by easing crude oil prices. The state-run oil marketing company (OMC) had reported a net loss of Rs 272 crore for the corresponding period a year ago.

IOC’s revenue declined 1.4 per cent to Rs 2.04 lakh crore for the three-month period compared with the year-ago period, according to a regulatory filing.

According to Zee Business research, Indian Oil's quarterly revenue was estimated at Rs 1.96 lakh crore.

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The company's earnings before interest, taxes, depreciation and ammortisation (EBITDA) grew 83 per cent to Rs 3,593 crore for the third quarter of the current financial year.

Its margin — a key measure of profitability — declined by 90 basis points on a year-on-year basis to 0.9 per cent.

IOC shares ended flat with a positive bias at Rs 81.7 apiece on BSE after the earnings announcement as compared to 0.22 per cent rise in the BSE Sensex.

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