On October 27, Indian Oil scrip closed 3.19% increased at Rs 155.15 per piece on the BSE and three.23% increased at Rs 155.23 per piece on the NSE. File | Photograph credit score: Reuters
State-owned refiner Indian Oil’s web revenue elevated greater than 40 occasions (4,128%) year-on-year (4,128%) to Rs 7,610.45 crore within the September-end quarter on improved refining margins and decrease base results. The corporate’s common crude refining margin, a key measure of profitability, rose about 55% to $6.32 per barrel within the second quarter of this 12 months from $4.08 per barrel in the identical interval final 12 months.
The corporate had posted a revenue of Rs 180 crore within the second quarter of final 12 months on the again of stock losses and decrease refining margins because of decrease cracking, which was broadly in keeping with international traits on the time.
General, the refiner’s income rose 4.07% to round Rs 2,040 crore within the September-end quarter. This was primarily pushed by a 4.2% improve in home gross sales to 22,851 million tonnes (MMT) within the second quarter.
Refinery throughput additionally elevated by 5.2% year-on-year to 17.608.
On Monday (October 27), Indian Oil scrip rose 3.19% to ₹155.15 per piece on the BSE and ended at ₹155.23 per piece on the NSE, up 3.23%. Refining friends Hindustan Petroleum and Bharat Petroleum are scheduled to report quarterly income later this week.
