Indian Oil Corporation: Indian Oil Corporation (IOC) has recently announced its quarterly results for the period ending September 2023 and the numbers are nothing short of remarkable. After a challenging year in 2022, the company has made a surprise improvement by registering a standalone net profit of Rs 12967 crore, a significant turnaround from the loss of Rs 272 crore recorded in the same quarter last year.
In addition to this strong performance, the company’s board has declared an interim dividend of Rs 5 per share for the financial year 2023-2024. With good financial parameters, is Indian Oil Corporation stock worth your investment? Read the news to know.
Strong financial performance of the company
The most attractive aspect of IOC’s recent financial performance is the impressive net profit of Rs 12,967 crore, which marks a considerable improvement from the loss of Rs 272 crore recorded in the same period last year. This notable improvement can be attributed to a combination of factors, including improved refining margins and cost management strategies.
However, revenue from operations for the quarter fell 11% to Rs 2.02 lakh crore, compared to Rs 2.28 lakh crore in the same quarter last year. Despite this decline in revenues, IOC’s ability to record significant profits indicates its resilience in the face of challenging market conditions.
IOC announces dividend
The Board of Directors of the company has shown its confidence in the financial stability of IOC by declaring an interim dividend of Rs 5 per share for the year 2023-2024. This dividend will be paid to eligible shareholders on or before November 30, with the record date set as November 10.
IOC Stock Weekly Chart
Apart from its impressive financial performance, it is necessary to highlight the stock performance of Indian Oil Corporation. The company’s stock has given huge returns of more than 100% in the last three years.
In the year 2020, this stock was trading at around Rs 50 per share, but by 2023 it will cross the Rs 100 per share mark. This surge represents an increase of more than 100%, making IOC stock an attractive option for investors. With such impressive returns and the company’s strong financial position, it’s no surprise that this stock has attracted the attention of smart investors looking for growth opportunities.
Improve company profitability
Profit before tax (PBT) for the quarter under review stood at an impressive Rs 17,170 crore, marking a significant improvement from the loss of Rs 244 crore in the same period last year. Core gross refining margin (GRM) for the period under review, after accounting for inventory gains and losses, was $12.60 per barrel. Despite the decline in average GRM to $13.12 per barrel for the April to September period, it is worth noting that IOC profitability remains strong.
View category wise performance
In terms of revenues from various sectors, petroleum product revenues declined 12% to Rs 1.90 lakh crore in the second quarter, compared to Rs 2.17 lakh crore in the year-ago quarter. On the other hand, the petrochemicals segment recorded significant growth, with revenues growing 19% year-on-year to Rs 6,613 crore. Revenue from other business activities also saw a marginal increase, standing at Rs 9,138 crore for the quarter.
Excellent half year results
For the half year ending September 2023, Indian Oil reported a substantial profit of Rs 26,718 crore, a sharp contrast to the loss of Rs 2,265 crore in the same period last year. While revenues declined from Rs 4.80 lakh crore to Rs 4.23 lakh crore in the first half of the financial year, IOC’s financial recovery remains a commendable achievement.
For investors looking for potential opportunities in the petroleum and natural gas sector, IOC’s impressive growth, coupled with supportive government initiatives, makes it a notable option. However, due diligence and personal financial goals should guide investment decisions.
Disclaimer: This information is provided for informational purposes only. It is important to note that investing in the market or any business idea involves market risks. Before investing money as an investor/owner/partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial loss.
Subscribe to our YouTube Channel ‘DNP INDIA’ now for all the news of the country and the world. You can also follow us on FACEBOOK, INSTAGRAM and TWITTER.
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Indian Oil Corporation: Indian Oil Corporation (IOC) has recently announced its quarterly results for the period ending September 2023 and the numbers are nothing short of remarkable. After a challenging year in 2022, the company has made a surprise improvement by registering a standalone net profit of Rs 12967 crore, a significant turnaround from the loss of Rs 272 crore recorded in the same quarter last year.
In addition to this strong performance, the company’s board has declared an interim dividend of Rs 5 per share for the financial year 2023-2024. With good financial parameters, is Indian Oil Corporation stock worth your investment? Read the news to know.
Strong financial performance of the company
The most attractive aspect of IOC’s recent financial performance is the impressive net profit of Rs 12,967 crore, which marks a considerable improvement from the loss of Rs 272 crore recorded in the same period last year. This notable improvement can be attributed to a combination of factors, including improved refining margins and cost management strategies.
However, revenue from operations for the quarter fell 11% to Rs 2.02 lakh crore, compared to Rs 2.28 lakh crore in the same quarter last year. Despite this decline in revenues, IOC’s ability to record significant profits indicates its resilience in the face of challenging market conditions.
IOC announces dividend
The Board of Directors of the company has shown its confidence in the financial stability of IOC by declaring an interim dividend of Rs 5 per share for the year 2023-2024. This dividend will be paid to eligible shareholders on or before November 30, with the record date set as November 10.
IOC Stock Weekly Chart
Apart from its impressive financial performance, it is necessary to highlight the stock performance of Indian Oil Corporation. The company’s stock has given huge returns of more than 100% in the last three years.
In the year 2020, this stock was trading at around Rs 50 per share, but by 2023 it will cross the Rs 100 per share mark. This surge represents an increase of more than 100%, making IOC stock an attractive option for investors. With such impressive returns and the company’s strong financial position, it’s no surprise that this stock has attracted the attention of smart investors looking for growth opportunities.
Improve company profitability
Profit before tax (PBT) for the quarter under review stood at an impressive Rs 17,170 crore, marking a significant improvement from the loss of Rs 244 crore in the same period last year. Core gross refining margin (GRM) for the period under review, after accounting for inventory gains and losses, was $12.60 per barrel. Despite the decline in average GRM to $13.12 per barrel for the April to September period, it is worth noting that IOC profitability remains strong.
View category wise performance
In terms of revenues from various sectors, petroleum product revenues declined 12% to Rs 1.90 lakh crore in the second quarter, compared to Rs 2.17 lakh crore in the year-ago quarter. On the other hand, the petrochemicals segment recorded significant growth, with revenues growing 19% year-on-year to Rs 6,613 crore. Revenue from other business activities also saw a marginal increase, standing at Rs 9,138 crore for the quarter.
Excellent half year results
For the half year ending September 2023, Indian Oil reported a substantial profit of Rs 26,718 crore, a sharp contrast to the loss of Rs 2,265 crore in the same period last year. While revenues declined from Rs 4.80 lakh crore to Rs 4.23 lakh crore in the first half of the financial year, IOC’s financial recovery remains a commendable achievement.
For investors looking for potential opportunities in the petroleum and natural gas sector, IOC’s impressive growth, coupled with supportive government initiatives, makes it a notable option. However, due diligence and personal financial goals should guide investment decisions.
Disclaimer: This information is provided for informational purposes only. It is important to note that investing in the market or any business idea involves market risks. Before investing money as an investor/owner/partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial loss.
Subscribe to our YouTube Channel ‘DNP INDIA’ now for all the news of the country and the world. You can also follow us on FACEBOOK, INSTAGRAM and TWITTER.
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