Indian Oil Corporation Ltd's Q1FY19 standalone net profit rises 50.18% yoy to Rs6,831.10cr: Beats Estimates

The company’s standalone revenue stood at Rs1,29,475cr, up 26.16% yoy.

Aug 11, 2018 04:08 IST India Infoline Research Team

Indian Oil Corporation Ltd Q1FY19

Standalone Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 1,29,475 26.2
EBITDA 12,575.80 142.2
EBITDA Margin (%) 9.7 465
Net Profit 6,831.10 50.2
***EBITDA margin change is bps

Indian Oil Corporation Ltd. (IOCL) reported Q1FY19 results beating street estimates. Revenue grew 26.2% yoy to Rs1,29,475cr against Rs1,02,626.2cr in Q1FY18. EBITDA for the quarter grew 142% yoy to Rs12,575.8cr against Rs5,191.5cr, beating the estimate (Rs10,455cr). EBITDA margin rose 465bps yoy to 9.7%. Net profit for the quarter grew by 50.2% yoy to Rs6,831.1cr against Rs4,548.5cr last year, beating the estimate (Rs5,334cr).


• Gross refining margin (GRM) stood at $10.2/bbl in Q1FY19 vs. $4.3/bbl yoy, supported by ~Rs5900cr of inventory gains.
• Domestic product sales were up 3.5% yoy. Petrol and Diesel growth came in at 4.9% yoy and 1.5% yoy, respectively.
• Petrochemical production was up 5% yoy, however, EBITDA was down 10% yoy.
• Pipeline throughput was up 7% yoy, while EBITDA was up 2% yoy.






Technical View:

Indian Oil Corporation Ltd ended at Rs. 166.50, up by 1.1 points or 0.67% from its previous closing of Rs. 165.40 on the BSE.
The scrip opened at Rs. 166.10 and touched a high and low of Rs. 168.70 and Rs. 163.55 respectively. A total of 67,97,378 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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