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HomeMarket NewsIndian Oil Q3 Results: Strong operating performance leads to gains for the PSU stock
Courtesy of the strong operating performance during the December quarter, shares of Indian Oil Corporation gained on Thursday. The stock is up 40% in the last 12 months.
Shares of Indian Oil Corporation Ltd. (IOC) gained on Thursday, February 5, in response to its December quarter results, which were better on a sequential basis.
The company's net profit for the quarter stood at ₹12,126 crore, compared to ₹7,610.5 crore in the September quarter.
Revenue increased by 14.3% from the same quarter last year to ₹2.04 lakh crore from ₹1.78 lakh crore in September.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter saw growth of 42.8% from the previous quarter to ₹20,824.8 crore from ₹14,584.8 crore earlier.
EBITDA margin expanded by 200 basis points from last quarter to 10.2% from 8.2% earlier.
Shares of Indian Oil Corporation are trading 2% higher after the earnings announcement at ₹176.25. The stock is up 40% in the last 12 months.
