The shares of Maharatna Central Public Sector Enterprise with an Indian market share of 42 percent across its portfolio, jumped 3 percent following robust Q3FY24 results with a jump in Net Profits by 936.17 percent YoY.
At 3:20 p.m the shares of Indian Oil Corporation Limited closed at Rs. 144.20, up 3.78 percent from its previous day’s close price of Rs. 138.95 and its market capitalization is Rs. 2,02,780 Crores.
Its revenue from operations declined by 2.32 percent YoY from Rs. 2,32,303.20 Crores in Q3FY23 to Rs. 2,26,892.08 Crores in Q3FY24 and it increased 10.52 percent QoQ from Rs. 2,05,283.03 Crores in Q2FY24 to Rs. 2,26,892.08 Crores in Q3FY24.
Its Net Profit grew by 936.17 percent YoY from Rs.890.28 Crores in Q3FY23 to Rs. 9,224.85 Crores in Q3FY24 and it declined 32.72 percent QoQ from Rs. 13,713.08 Crores in Q2FY24 to Rs.9,224.85 Crores in Q3FY24.
Indian Oil Corporation Limited is a Maharatna Central Public Sector Enterprise and the largest refiner in the country with a market share of 42 percent across petroleum, oil, and lubricants, with over 59,900 touchpoints.
It has business interests across the entire value chain of hydrocarbon from Refining, Pipeline transportation, and marketing of Petroleum products to R&D, Exploration & production, and marketing of natural gas and petrochemicals.
It has reported a return on equity (ROE) of 7.17 percent and a return on capital employed of 8.09 percent, it is making good returns on its equity and capital employed considering it operating in a capital-intensive business.
According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold 51.50 percent stake, the Foreign Institutional Investors (FII) hold 8.84 percent and the Domestic Institutional Investors hold 9.90 percent.
Written by: Bharath K.S
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