IOC Q2 profit seen at Rs 6,023 crore; GRMs likely at $4.32 per barrel

State-run oil marketing firm Indian Oil is likely to report a net profit of Rs 6,023 crore for the September quarter, up from Rs 4,548 crore in the previous quarter, according to a CNBC-TV18 poll.

The revenue could witness a dip to Rs 99,700 crore against Rs 1.28 lakh crore in the previous quarter.

On an operating level, the earnings before interest, depreciation, taxes and amortisation (EBITDA) was seen at Rs 10,789 crore, a healthy increase from Rs 7,999 crore in the previous quarter, while the operating margin is likely to be reported at 10.8 percent against 7.6 percent.

Meanwhile, the gross refining margin (GRM) is seen at USD 4.32 per barrel.

Among key things to watch for the firm would be the utilization of Paradip refinery, GRM figures, capex plans and inventory or forex changes.

The company had reported net profit in the April-June period, at Rs 4,548.51 crore or Rs 9.60 per share, which was 45 per cent lower than the Rs 8,268.98 crore (Rs 17.45 a share) net profit in the same quarter of last fiscal.

It earned USD 4.32 on turning every barrel of crude oil into fuel in the quarter as compared to USD 9.98 a barrel gross refining margin in the year-ago period.