IOC falls 4.5% on poor Q2 performance; brokerages expect subdued H2

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26 Aug, 2025 12:21

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Shares of Indian Oil Corporation fell over 4.5 percent as investors reacted to the September quarter performance.

Brokerages have remained bearish on the stock and expect a subdued show in the second half of this fiscal.

The company reported a fall of 52 percent (quarter-on-quarter) in its net profit for the September quarter at Rs 3,247 crore. The company had reported a net profit of Rs 6,831.13 crore in the previous quarter.

The revenue rose to Rs 1.32 lakh crore during the quarter under review, a marginal rise from Rs 1.29 lakh crore in the June quarter.

The earnings before interest, taxes, depreciation and amortization (EBITDA) fell 46 percent to Rs 6,762 crore against Rs 12,576 crore from the previous quarter.

The operating margin fell to 5.1 percent from 9.7 percent during the June quarter.

The global research firm said that realised refining and petchem margins were soft. Further, second half of FY19 could be challenging too. It is baking in improved refining performance in the second half of this fiscal. Having said that, it still expects standard earnings to fall 36 percent year on year in Fy19.

Nomura said that the company absorbing Rs 1 per litre on petrol and diesel are a big dent to investor confidence. The impact on earnings will be large and should be visible from the third quarter. Further, H2 will be weaker vs H1 for oil marketing cos, the report further added.