Indian Oil Corporation, one of India’s leading oil and gas companies, announced its second-quarter results, revealing a net profit of Rs 12,967 crore. This figure, although marginally lower than the previous quarter’s profit of Rs 13,750 crore, showcased the company’s resilience amid market fluctuations. Despite challenges, Indian Oil Corporation managed to maintain a robust financial performance, instilling confidence in its stakeholders.
In a move welcomed by shareholders, the company declared a dividend of Rs 5 per share, indicating its commitment to providing value to its investors.
At 2:13 PM, Indian Oil Corporation’s shares demonstrated positive momentum, trading 1.25% higher at ₹89.35.
IOC Q2 Results –
Indian Oil Corporation reported a standalone net profit of Rs 12,967.32 crore for the July-September period, a 5.7% decline sequentially but surpassing market expectations. The company’s stock rose by 1.3% after the announcement. Revenue stood at Rs 2,02,312.04 crore, down from Rs 2,21,145.42 crore in the previous quarter. Revenue from petroleum products decreased by 9.6% to Rs 1,90,736.3 crore, while the petrochemicals unit saw a 1.7% decline to Rs 6,613.4 crore. Despite a 3.8% drop in EBITDA to Rs 21,313 crore, the company’s margin expanded by 70 basis points to 11.9%. The board declared a dividend of Rs 5 per share with a record date of November 10.
