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.

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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