IOC Q1 net profit dips 41% QoQ at Rs 3,596 crore, GRM tanks

Indian Oil Corporation (IOC) posted 41 percent fall in its June quarter standalone net profit at Rs 3,596.11 against Rs 6,099.3 crore in the quarter ended March 2019.

Revenue of the company was up 3.9 percent at Rs 1.50 lakh crore against Rs 1.45 lakh crore.

Earnings before interest, tax, depreciation and amortization (EBITDA) was down 23.2 percent at Rs 8,349.8 crore against Rs 10,875.8 crore.

EBITDA margin of the company was at 5.5 percent versus 7.5 percent.

The average gross refining margin (GRM) for April-June was at $4.69 barrel against $10.21 per barrel in April-June 2018.

At 1450 hours, Indian Oil Corporation was quoting at Rs 138.80, up Rs 5.25, or 3.93 percent on the BSE.Indian Oil Corporation

News Source :- Moneycontrol

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