Stock Market

IOC trades in the red ahead of Q3 results

   Download Android App    Share in      FullScreen   CheckVideos

NEW DELHI: Shares of Indian Oil Corporation (IOC) were trading in the negative territory ahead of the announcement of its December quarter earnings on Wednesday in an otherwise buoyant market. Brokerages are expecting a negative set of numbers from IOC.

"We expect IOC to report negative EBITDA despite strength in underlying margins and forex gains of Rs 1,900 crore, which will be offset by large adventitious/inventory losses at Rs 12,700 crore across refining and marketing segments," said Kotak Institutional Equities. The brokerage expects a flat year-on-year (YoY) sales volumes at 20.9 million tons and higher underlying refining margins at $4.5 per barrel. Elara Capital sees an 88.1 per cent drop in YoY EBITDA.

Sequentially, it may fall 76.7 per cent.

The adjusted net profit, as per the brokerage, may fall as much as 101.2 per cent YoY. Shares of the company traded 0.22 per cent down at Rs 137.20 around 9:55 am on BSE.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Stock Market


21