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( 31 Jul 2019)
Indian Oil Corp Q1 net profit down 47.36% at Rs 3596.11 cr

The company reported standalone net profit of Rs 3,596.11 crore for the quarter ended June 30, 2019 as compared to Rs 6831.13 crore in the same period last year, registering a year-on-year decline of 47.36 per cent.

Net revenue of the company rose marginally by 1.57 per cent at Rs 1,31,512.46 crore in April-June quarter of this fiscal as against Rs 1,29,475.00 crore in the corresponding period last year.

During April-June quarter, operating expenses increased by 5.36 per cent to Rs 1,23,162.50 crore from Rs 1,16,899.17 crore in year ago period.

Other Income grew by 7.87 per cent at Rs 631.37 crore versus (Jun'18 Rs 585.33 crore).

Operating Profit slipped by 33.60 per cent to Rs 8,349.96 crore as against Rs 12,575.83 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 34.60 per cent in June quarter.

Interest grew by 46.36 per cent y-o-y to Rs 1,509.08 crore, while Taxation decreased by 49.21 per cent at Rs 1,783.29 crore (Jun'18 Rs 3,511.04 crore).