Indian Oil Corporation Ltd Share Price – NSE /  BSE

Refineries, Mid Cap

Indian Oil Corporation Ltd fell for a fifth straight session today. The stock is quoting at Rs 136.26, down 1.82% on the day as on 12:59 IST on the NSE. The benchmark NIFTY is down around 0.94% on the day, quoting at 23659.1. The Sensex is at 78018.99, down 0.83%.Indian Oil Corporation Ltd has eased around 17.65% in last one month.Meanwhile, Nifty Energy index of which Indian Oil Corporation Ltd is a constituent, has eased around 10.14% in last one month and is currently quoting at 37705.65, down 1.02% on the day. The volume in the stock stood at 70.89 lakh shares today, compared to the daily average of 183.19 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 136.9, down 1.63% on the day. Indian Oil Corporation Ltd jumped 33.98% in last one year as compared to a 20.25% rally in NIFTY and a 31.64% spurt in the Nifty Energy index.

The PE of the stock is 13.33 based on TTM earnings ending September 24.

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Indian Oil Corporation has informed that the following Board of directors have superannuated from the services of the Company on 30 October 2024: Dr. Santanu Gupta, Executive Director (Alternative Energy), Business Development, Shri Sourav De, Executive Director (Human Resources), Pipelines Division), Shri Shyam Bohra, Executive Director I/c (Corporate Communication, Branding & Coordination), Corporate Office, and Shri Debasis Bhattacharyya, Executive Director (Technology Implementation Cell), R&D Centre.

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Net loss of Indian Oil Corporation reported to Rs 169.58 crore in the quarter ended September 2024 as against net profit of Rs 13114.30 crore during the previous quarter ended September 2023. Sales declined 2.38% to Rs 174976.12 crore in the quarter ended September 2024 as against Rs 179245.67 crore during the previous quarter ended September 2023.

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The company reported loss before exceptional item and tax of Rs 984.47 crore in Q2 FY25 as compared with profit before exceptional item and tax of Rs 17,169.87 crore reported in Q2 FY24.

Exceptional item stood at Rs 1,157.30 crore, due to favourable order from Hon’ble Supreme Court dated 02.08.2024, on the subject of VAT Input Tax Credit under Gujarat VAT Act 2005, a provision created earlier in the books has been written back and disclosed as exceptional item during the current quarter.

Domestic sales fell marginally 0.03% to 21.931 million metric tons (MMT) and the export sales dropped 20.95% to 1.030 MMT in Q2 FY25 over Q2 FY24.

During the quarter, the refineries throughput was 16.738 MMT (down 5.82% YoY) while the pipelines throughput was 23.985 MMT (up 0.48% YoY).

The company's revenue from petroleum products stood at Rs 1,83,247.52 crore (down 3.93% YoY) while the income from the petrochemicals revenue was at Rs 6,813.36 crore (up 3.02% YoY) during the period under review.

Average gross refining margin (GRM) for the period April-September 2024 is $4.08 per bbl as compared to $13.12 per bbl reported in April- September 2023. The core GRM or the current price GRM for the period April- September 2024 after offsetting inventory loss/ gain comes to $2.97 per bbl.

On the margins front, the company's operating margin reduced to 0.03% in Q2 FY25 from 8.91% posted in Q2 FY24. Net profit margin declined to 1.22% in Q1 FY25 as against 6.22% recorded in the corresponding quarter previous year.

Indian Oil Corporation is an Indian government owned oil and gas explorer and producer. As of 30 June 2024, the Government of India held 51.50% stake in the company.

The scrip rose 0.51% to end at Rs 147.10 on the BSE.

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