Indian Oil Corporation lost 0.55% to Rs 242.75 at 10:45 IST on BSE after the company reported a net loss of Rs 961.45 crore in Q3 December 2013 as compared to net profit of Rs 3331.96 crore in Q3 December 2012.
The Q3 result was announced after market hours on Thursday, 13 February 2014.
Meanwhile, the S&P BSE Sensex was up 38.34 points or 0.19% at 20,231.69.
On BSE, so far 28,000 shares were traded in the counter as against average daily volume of 71,896 shares in the past one quarter.
The stock was volatile. The stock lost as much as 2.39% at the day's low of Rs 238.25 so far during the day. The stock lost 0.04% at the day's high of Rs 244 so far during the day. The stock had hit a 52-week high of Rs 327 on 14 February 2013. The stock had hit a 52-week low of Rs 186.20 on 31 July 2013.
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The stock had outperformed the market over the past one month till 13 February 2014, advancing 17.75% compared with the Sensex's 4.45% fall. The scrip had also outperformed the market in past one quarter, surging 23.53% as against Sensex's 0.01% fall.
The large-cap public sector oil marketing company has equity capital of Rs 2427.95 crore. Face value per share is Rs 10.
Indian Oil Corporation (IOC)'s net sales rose 0.8% to Rs 117415.18 crore in Q3 December 2013 over Q3 December 2012.
IOC said it has accounted for Budgetary Support of Rs 18677.65 crore during April-December 2013 (April-December 2012: Rs 29568.53 crore) towards under-recovery on sale of regulated products viz. HSD, SKO (PDS) and LPG (Domestic) in statement of profit and loss as Revenue Grants.
Consequent to non-revision of retail selling prices in line with International prices and pending crystallization of compensation from Government of India (GoI) at the year end, the company has suffered net under-realization of Rs 8818.15 crore during April-December 2013 (April-December 2012: Rs 13226.84 crore) on sale of regulated products viz. HSD, SKO (PDS) and LPG (Domestic), IOC said.
The Government of India (GoI) holds 78.92% stake in IOC (as per the shareholding pattern as on 31 December 2013).
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