Indian Oil’s gross refining margin stood at $2.15 per barrel, which is well below the previous quarter’s figure of $7.97 per barrel and lower than the CNBC-TV18 poll expectation of $7.1 per barrel.
HomeMarket NewsIndian Oil Q1 Results: Stock falls to the day’s low after numbers miss expectations
Indian Oil’s gross refining margin stood at $2.15 per barrel, which is well below the previous quarter’s figure of $7.97 per barrel and lower than the CNBC-TV18 poll expectation of $7.1 per barrel.
Net profit for the period fell 22% from last year to ₹5,689 crore, which was lower than the CNBC-TV18 poll of ₹7,374 crore.
Revenue for the quarter stood at ₹1.93 crore, higher than the CNBC-TV18 poll expectation of ₹1.8 lakh crore and 1% lower compared to the previous quarter.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 7% from the March quarter to ₹12,607 crore, which was lower than the ₹15,310 crore figure.
EBITDA margin for the quarter fell to 6.53% from 7% last quarter, while the CNBC-TV18 poll had projected the figure to be 8.5%.
Gross Refining Margins, or the difference between the total value of petroleum products produced by a refinery and the cost of the crude oil used as raw material, stood at $2.15 per barrel, which is well below the previous quarter’s figure of $7.97 per barrel and lower than the CNBC-TV18 poll expectation of $7.1 per barrel.
Shares of Indian Oil Corporation are currently trading 1.3% lower after the results announcement at ₹140.64. The stock is down 6.5% in the last one month.
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