IOCL slides on profit booking after declaring Q2 result

Indian Oil Corporation lost 4.42% to Rs 416 at 15:14 IST on BSE on profit booking after the company declared Q2 result during trading hours today, 27 October 2017.

Meanwhile, the S&P BSE Sensex was down 6.51 points, or 0.02% to 33,140.62.

On the BSE, 9.31 lakh shares were traded in the counter so far, compared with average daily volumes of 5.20 lakh shares in the past one quarter. The stock had hit a high of Rs 442 and a low of Rs 410.15 so far during the day. The stock hit a record high of Rs 462.60 on 31 August 2017. The stock hit a 52-week low of Rs 281.70 on 16 November 2017.

The large-cap company has equity capital of Rs 4855.90 crore. Face value per share is Rs 10.

Shares of Indian Oil Corporation (IOCL) had gained 7.71% in three trading days to settle at Rs 435.25 yesterday, 26 October 2017, from its close of Rs 404.10 on 23 October 2017 ahead of Q2 results.

Indian Oil Corporation (IOCL)'s net profit rose 18.4% to Rs 3696.29 crore on 9.98% rise in total income to Rs 111224.83 crore in Q2 September 2017 over Q2 September 2016.

IOCL's average gross refining margin dropped to $6.08 per bbl in Q2 September 2017 from $7.19 per bbl in Q2 September 2016.

The company said it accounted for budgetary support of Rs 1415.63 crore in Q2 September 2017 compared with Rs 2784.64 crore in Q2 September 2016 as revenue grants and included in sales/income from operations and no under-realization is suffered by the company on this account.

IOCL is India's flagship national oil company, with business interests that straddle the entire hydrocarbon value chain - from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas as well as marketing of natural gas and petrochemicals.

The Government of India held 57.34% stake in IOCL (as per the shareholding pattern as on 30 September 2017).

Powered by Capital Market - Live News