Indian Oil Q4FY22 PAT down -26.38% at Rs6,646 crore on sharp fall in petchem operating profits

20 May 2022 , 06:29 AM

Indian Oil Corp reported 26.14% increase in revenues yoy for the Q4FY22 quarter on consolidated basis at Rs209,049 crore. On a sequential basis, revenues were higher for the quarter by 4.85%.

Full year FY22 revenues were up 41.6% at Rs736,731 crore on higher oil prices. In terms of top line, the petroleum business saw revenues grow by 25.6% while the petchem business saw revenues grow by 25.5% on a smaller base.

While the gross refining margins of IOCL remained robust at above $11/bbl, IOCL took a hit on petchem margins which contracted, as well as retail margins which were hit by static petrol prices.

The consolidated net profit for Q4FY22 was lower by -26.38% at Rs6,646 crore while it was up on sequential basis by 8.18%.

For Q4FY22, the operating profits of the petroleum business was flat at Rs9,618 crore as the gains of better GRM were offset by the sharp fall I retailer margins on account of static retail prices.

Petchem operating profits fell by almost 75% yoy due to a squeeze on input costs. NPM for Q4FY22 was lower at 3.18%. IOCL has declared 1:2 bonus issue and final dividend of Rs3.60 per share on pre bonus terms.

Financial highlights for Mar-22 compared yoy and sequentially

	Indian Oil
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 2,09,049	₹ 1,65,734	26.14%	₹ 1,99,375	4.85%
Net Profit (Rs cr)	₹ 6,646	₹ 9,026	-26.38%	₹ 6,143	8.18%
Diluted EPS (Rs)	₹ 7.24	₹ 9.83		₹ 6.69
Net Margins	3.18%	5.45%		3.08%