Oct 19, 2016 12:03 PM IST IST | Source: Moneycontrol.com

Indian Oil Q2 PAT seen down 45.3% to Rs 4521.1 cr: Religare

Net Sales are expected to increase by 16 percent Q-o-Q (up 16.8 percent Y-o-Y) to Rs 99399.7 crore, according to Religare.

Religare has come out with its second quarter (July-September) earnings estimates for the India Energy sector. The brokerage house expects Indian Oil to report net profit at Rs 4521.1 crore, down 45.3 percent quarter-on-quarter.

Net Sales are expected to increase by 16 percent Q-o-Q (up 16.8 percent Y-o-Y) to Rs 99399.7 crore, according to Religare.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 38.1 percent Q-o-Q to Rs 8209.7 crore.

Religare's report on Indian Oil

Earnings to decline to Rs 45bn (-45% QoQ) in the absence of major inventory gains. GRMs (excluding inventory gains) expected to improve to US$ 6/bbl (from US$3.5/bbl QoQ) on higher middle distillates and fuel oil spreads.

Petchem EBITDA to improve to Rs 16bn (+8% QoQ) on better spreads. Pipeline EBITDA to remain flat QoQ at Rs 16bn.

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