About the Company:
Extensive Refining, advanced R&D facilities and 33,000 plus work-force, Indian Oil Corporation is fueling socio-economic development of the country. The major oil corporation is India’s flagship Maharatna national company with business interest right from refining to exploration and production of crude oil and gas, petrochemicals and gas marketing.
QoQ & YoY Performance:
India’s oil distribution Company has declared the results for the second quarter of fiscal year ending March 2020.
- QoQ Performance: Consolidated Net sales/ revenue of the company recorded to Rs.132,375.69 crores, decline by 11.83% in the September quarter of FY20. Total expenditure (excluding interest and depreciation expenses) are Rs. 128,803.47 crores, is slipped by 9.16%. EBITDA numbers plunged by 53%.
- YoY Performance: The Company has reported a 12.67% decrease in sales/revenue while expenditure (excluding interest and depreciation expenses) of the company have witnessed drop by 11.05%. EBITDA numbers decline by 45.91%.
- Profitability of the company: Net profits of the company landed to Rs. 563.42 crores, down by 84.33% QoQ and declined by 82.65% YoY.
As per Lokesh Sethia, SEBI Registered Research Analyst, the stock was trading at Rs.144 per share today. The major oil distribution company reported the worst results due to slowdown in the auto sector. The Average Gross Refining Margin for the period April - Sep 2019 is$ 2.96 per bbl (April - Sep 2018- $ 8.45 per bbl). While expenses reduced by 9.16%. Hence, we recommend it to “AVOID”.