Q4FY21 Result Update - Indian Oil Corporation - ICICI Direct

Indian Oil Corporation (IOC) reported Q4FY21 profits better than our estimates, mainly driven by inventory gains. Revenues increased 11.6% QoQ to Rs. 163605.7 crore (our estimate: Rs. 170485 crore). The quarter saw strong inventory gains of US$8.1/bbl leading to reported GRMs at US$10.6/bbl (our estimate: US$4.5/bbl). EBITDA was at Rs. 13501.8 crore (up 40.3% QoQ), above our estimate of Rs. 7738.4 crore, mainly due to higher profitability in both refining and petchem segments. Subsequently, reported PAT was at Rs. 8781.3 crore, up 78.6% QoQ (our estimate: Rs. 3908.9 crore).

For details, click on the link below: Link to the report

Shares of INDIAN OIL CORPORATION LTD. was last trading in BSE at Rs.104.3 as compared to the previous close of Rs. 104.7. The total number of shares traded during the day was 1789245 in over 8386 trades.

The stock hit an intraday high of Rs. 106.95 and intraday low of 103.6. The net turnover during the day was Rs. 187508408.

Source : Equity Bulls

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