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Near-term upsides priced into stocks of oil marketing companies

Overall, IOCL and BPCL reported a net profit of Rs 8,063 crore and Rs 3,397 crore respectively, well ahead of Q3FY23 PAT of Rs 448 crore and Rs 1,960 crore

oil, crude, petroleum, crude oil, oil barrels

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Devangshu Datta

3 min read Last Updated : Mar 01 2024 | 11:42 PM IST

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The oil marketing companies, IOCL and BPCL posted better-than-expected earnings in Q3FY24 due to a big upside in refining margins and also marketing inventory gains as crude prices rose.

BPCL and IOCL gross refining margins or GRM came in at $13.4 and $13.5 per barrel (bbl) respectively at a premium of $8-plus to Singapore complex GRM of $5.4/bbl.

Overall, IOCL and BPCL reported a net profit of Rs 8,063 crore and Rs 3,397 crore respectively, well ahead of Q3FY23 PAT of Rs 448 crore and Rs 1,960 crore.

There was a quarter-on-quarter (Q-o-Q) decline in earnings due to a higher

Topics : stock market trading Indian market The Compass oil marketing companies

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