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Indian Oil Corporation Q1 profit may fall over 50% YoY, sequentially – Moneycontrol

Indian Oil Corporation Q1 profit may fall over 50% YoY, sequentially – Moneycontrol

Final Up as a lot as now : Jul 31, 2019 01: 18 PM IST | Offer: Moneycontrol.com

Kotak Institutional Equities feels profit drop may maybe maybe maybe be 80 p.c QoQ and 82.3 p.c YoY and earnings also can decline 1 p.c QoQ and 3.5 p.c YoY.

Sigh-owned oil advertising and marketing and marketing firm Indian Oil Corporation (IOC) is anticipated to list extra than 50 p.c drop in June quarter profit, each on sequential as properly as on yr-on-yr foundation.

Essentially based entirely mostly on ICICI assure, the profit is anticipated to order no 72.1 p.c QoQ, as in Q4FY19 the firm had reported noteworthy-standard profits as a result of substantial inventory beneficial properties and advertising and marketing and marketing margins.

“Crude throughput is anticipated at 17.3 MMT, flattish QoQ. Advertising and marketing and marketing margins are expected to order no QoQ as firms had reported noteworthy-standard profits in Q4FY19. Core GRMs are expected to remain subdued cease to multi-yr lows as a result of old product spreads,” talked about the brokerage which sees mistaken refining margin at $3.2 a barrel in Q1FY20, in opposition to $4.1 a barrel in Q4FY19.

Kotak Institutional Equities expects profit to drop about 80 p.c QoQ and 82.3 p.c YoY and earnings to order no 1 p.c QoQ and 3.5 p.c YoY.

“We request IOCL to list old results impacted by (1) adventitious loss and (2) muted refining margins, that may maybe maybe maybe furthermore be partially offset by increased-than-standard blended advertising and marketing and marketing margins on auto fuels.

Disclaimer: The views and investment pointers expressed by brokerages on Moneycontrol.com are their own and now not that of the web page or its management. Moneycontrol.com advises users to focus on to certified experts ahead of taking any investment decisions.Subscribe to Moneycontrol First fee and score gain admission to to curated markets knowledge, genuine trading solutions, objective fairness diagnosis, actionable investment solutions, nuanced takes on macro, company and coverage actions, shining insights from market gurus and much extra.

First Printed on Jul 31, 2019 01: 15 pm

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Written by Hruday Charan

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