IOC Q1 GRM shrinks to $4.69 a barrel: Four key takeaways

Indian Oil Corporation posted 47.35 per cent year-on-year (YoY) fall in standalone net profit at Rs 3,596.11 crore in Q1FY20 against Rs 6,831.13 crore in the same period last year.

Despite the massive fall, the oil retailer's Q1 numbers were better-than-expected.

Analysts in an ETNow poll had projected a net profit of Rs 1077 crore. Shares of the company were trading 3.97 per cent higher at Rs 138.85 after the announcement of quarterly results, while the benchmark BSE Sensex was up 123 points, or 0.33 per cent, at 37,520 at around the same time.


Here are the top takeaways from IOC's first quarter earnings:

Topline: Revenue from operations inched higher to Rs 150,135.20 crore during the quarter under review against Rs 1,49,746.88 crore in the same quarter last year.

Expenditure: The figure jumped to Rs 1,45,387 crore in Q1FY20 over Rs 1,39,990 crore in Q1FY19.

Gross refining margin (GRM): Average GRM declined to $4.69 per barrel in Q1FY20 from $10.21 per barrel in the same period last year.

EBITDA: EBITDA came at Rs 8,350 crore for the quarter under review. The figure stood better than ETNow analysts estimates of Rs 4,281 crore.