The shares of Indian Oil Corporation (IOC) gained nearly 4 percent on May 2 after the oil major reported strong results for the January-March quarter of the financial year 2024-2025. Indus Towers and Jindal Saw results however sent their shares down in the red sharply.
Indus Towers shares tumbled strongly by over 7 percent to close at Rs 378.60 apiece, while Jindal Saw ended the session nearly 2 percent lower at Rs 243.50 apiece.
Indian Oil Corporation (IOC) Q4 Results:
Indian Oil Corporation (IOC) on April 30 had reported a 50 percent year-on-year rise in standalone net profit to Rs 7,265 crore in Q4 FY25 on account of inventory gains and robust domestic sales. It had earlier reported a net profit of Rs 4,838 crore in the year-ago period.
The oil major's revenue from operations however fell to Rs 2.18 lakh crore during the quarter, from the Rs 2.20 lakh crore reported in the same period last year. Along with the Q4 results, IOC also announced a final dividend of Rs 3 per equity share for FY25.
The shares of the company rose nearly 4 percent to close at Rs 143.23 apiece on May 2.
Indus Towers Q4 Results:
Indus Towers on April 30 reported a consolidated net profit of Rs 1,779 crore for the fourth quarter of FY25. This marked a fall of nearly 4 percent from the Rs 1,853 crore net profit reported in the corresponding quarter of the previous financial year. The company's revenue from operations however rose over 7 percent YoY to Rs 7,727 crore during Q4 FY25.
Earlier while intimating stock exchanges about its board meeting, the company had said that it may announce a plan to enhance shareholder value through either a share buyback, bonus issue of shares or debentures or dividends.
However, while announcing its Q4 results on April 30, Indus Towers said, "After detailed deliberations, the Board decided to constitute a Committee to comprehensively evaluate all options/dimensions and make a suitable recommendation to the Board for a final decision." This delay in bonus issue or dividend may have further dampened investor sentiment.
Jindal Saw Q4 Results:
Jindal Saw on May 2 reported a consolidated net profit of Rs 291 crore for Q4 FY25. This marks a fall of nearly 42 percent from the Rs 502 crore net profit reported in Q4 FY24. The company's revenue from operations meanwhile dropped nearly 7 percent YoY to Rs 5,047 crore during the quarter under review.
Along with the Q4 results, Jindal Saw also announced a dividend of Rs 2 per equity share for FY25.
The Q4 results and dividend were announced just before markets closed today. The stock will be kept under active watch when the market reopens on May 5.
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