Indian Oil Corporation Q3FY22 Preview: Revenue seen at Rs1,471,073 million, PAT at Rs69,976 million

24 Jan 2022 , 08:24 AM

Result date: 31st January, 2022

Oil marketing companies (OMCs), including Indian Oil Corporation (IOC) are likely to post strong set of results for the quarter ended December 31, 2021. Higher prices of Brent crude and healthy demand could aid both gross refining margins or GRMs as well as volumes for the OMCs. Price hikes will aid marketing margins in the quarter even as volumes could grow in double digits on a sequential basis. Lower price hikes in domestic LPG though could have some impact on the results.

IOC’s GRM is seen at US$6.9 per barrel for the quarter.

Rs. Million	December 2021 estimates
Revenue	1,471,073
EBITDA	124,580
% change YoY	29%
% change QoQ	17%
PAT	69,976
% change YoY	42%
% change QoQ	10%

Source: Company, IIFL Research