Nevertheless, the inventory corrected from the day’s highs submit the earnings announcement, and it stays to be seen if it could maintain on to the momentum seen within the inventory value in current instances.
The inventory is up practically 8 per cent during the last one month, however continues to be down 37 per cent for the 12 months so far.
Listed here are the important thing takeaways from IOC’s Q2 outcomes:
How a lot did the corporate earn?
Indian Oil Company posted round 13 instances progress in consolidated internet revenue at Rs 6,025.81 crore for the quarter ended September.
How did the revenues fare?
Consolidated income slipped 13.39 per cent YoY to Rs 1,16,713.17 crore.
What fuelled this progress within the bottomline?
Decrease enter prices and stock good points on the again of steep correction in crude oil costs earlier this 12 months and comparatively subdued financial exercise, decrease finance prices and better different earnings propelled the good points for the refining main.
What have been the GRMs like?
Common gross refining margin (GRMs) for the April- September was $3.46 per bbl, in comparison with $2.96 per bbl within the 12 months in the past.
How did the inventory react?
The inventory closed 1.40 per cent larger at Rs 79.55, whereas benchmark Sensex dropped 0.34 per cent to 39,614.07 factors. The inventory, nevertheless, closed off highs, having risen as a lot as 4.40 per cent to Rs 79.55 earlier than the earnings announcement.