Indian Oil Corporation fell 2.13% to Rs 315.20 at 15:27 IST on BSE after the company reported net profit of Rs 3121.89 crore in Q2 September 2016 compared with net loss of Rs 450.24 crore in Q2 September 2015.
The result was announced during trading hours today, 27 October 2016.Meanwhile, the BSE Sensex was up 56.43 points, or 0.20%, to 27,892.94.
On BSE, so far 4.41 lakh shares were traded in the counter, compared with average daily volume of 3.62 lakh shares in the past one quarter. The stock hit a high of Rs 324.50 and a low of Rs 310.10 so far during the day. The stock hit a record high of Rs 333.60 on 7 October 2016. The stock hit a 52-week low of Rs 172.53 on 12 February 2016. The stock had outperformed the market over the past 30 days till 26 October 2016, rising 9.99% compared with 1.37% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.91% as against Sensex's 1.32% decline.
The large-cap company has equity capital of Rs 4855.90 crore. Face value per share is Rs 10.
Indian Oil Corporation (IOCL)'s total income rose 3.43% to Rs 101128.07 crore in Q2 September 2016 over Q2 September 2015.
Average gross refining margin (GRM) was reported at $7.19 per barrel (bbl) in the April-September 2016, higher than $5.76 per bbl in April-September 2015.
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The company has accounted for budgetary support of Rs 2784.64 crore in April-September 2016, as revenue grants, compared with budgetary support of Rs 3448.32 crore in April-September 2015.
The company has accounted for Nil discounts on crude oit/products purchased from ONGC/OIL/CPCL which is adjusted against the purchase cost, towards under-recovery on sale of SKO (PDS). On this account, net under-realization suffered by the company during April-September 2016 is Nil.
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 58.28% stake in IOCL (as per the shareholding pattern as on 30 September 2016).
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