Indian Oil Corp Q3FY19E Result Expectation

The company's revenue in the quarter ended December 2018 is expected to grow 16.1% yoy.

Jan 30, 2019 02:01 IST India Infoline News Service

Indian Oil Corporation Ltd Consensus Expectations for Q3FY19E
  • Net Revenue – Rs1,28,456cr, up 16.1% yoy supported by higher realizations
  • EBITDA – Rs2,036cr, down 85% yoy
  • PAT – Rs1,244cr, down 84% yoy

Q2FY19 performance highlights
  • Revenue – Rs1,32,035cr, up 45.8% yoy
  • EBITDA – Rs6,762cr, down 8.9% yoy; GRMs averaged at $6.8/bbl (down 14% yoy)
  • EBITDA margin – 5.1%, contraction of 308bps yoy
  • PAT – Rs3,247cr, down 12.2% yoy

Remarks:
  • Expect core gross refining margin (GRM) to grow qoq to $4.9/bbl as well as a stable marketing margin. However, the company is expected to report inventory losses in the quarter.
  • Crude throughput is expected to remain flat qoq at ~17.8mmt.
  • Guidance on capex and status on Ennore LNG terminal, PP plant at Paradip, and subsidy sharing to be watched out for.

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