IOC Q2 net slips 62% at Rs 3122 cr; H1 GRM at $7.19/bbl

IOC's net profit has slipped 62 percent at Rs 3122 crore in July-September from Rs 8269 crore in quarter-ago period. During the period, its total income slipped 6.5 percent at Rs 1 lakh crore compared to Rs 1.07 lakh crore in last quarter.

October 27, 2016 / 17:22 IST

Moneycontrol Bureau

IOC's net profit has slipped 62 percent at Rs 3122 crore in July-September from Rs 8269 crore in quarter-ago period. During the period, its total income slipped 6.5 percent at Rs 1 lakh crore compared to Rs 1.07 lakh crore in last quarter.

EBITDA in Q2 also fell 57.8 percent at Rs 5771 crore against Rs 13683 crore while margins were at 5.76 percent compared to 12.8 percent.

In first half of FY16, gross refining margins (GRMs) was at USD 7.19 per barrel versus USD 5.76 per barrel year-on-year.

According to CNBC-TV18, standalone profit was seen falling 61.6 percent sequentially to Rs 3,174 crore. In Q1FY17, margin was boosted by large adventitious gains.

first published: Oct 27, 2016 02:40 pm

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