IOCL Q1 2024-25 results: Net profit plummets 74.73%, ₹1,698.67 crore Bihar terminal construction approved
Indian Oil's net profit plummeted 74.73% for the first quarter of 2024-25, primarily driven by a ₹11,250.29 crore increase in cost of materials consumed
Indian Oil Corporation Ltd (IOCL) has announced its first quarter results for the financial year 2024-25 on Tuesday, July 30, 2024.
How much was Indian Oil's revenue and net profit?
The oil giant recorded a 74.73% or ₹11,012.67 crore fall in its consolidated net profit of ₹3,722.63 crore, compared to the same quarter of the previous year, which was at ₹14,735.30 crore.
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IOCL's revenue on the other hand dropped 2.46% to ₹2,19,864.34 crore crore, compared to ₹2,25,410.49 crore in Q1 2023-24.
The total income was down by 2.49% or by ₹5,644.73 crore to ₹2,20,396.99 crore, compared to ₹2,26,041.72 crore previously.
How much revenue and profit did Indian Oil make segment-wise?
IOCL's revenue from petroleum products fell by 3.74% or by ₹8,021.35 crore to ₹2,06,442.54 crore, compared to ₹2,14,463.89 crore previously.
However, the profit from petroleum products fell by 74.05% or ₹14,667.05 crore to ₹5,139.81 crore, compared to ₹19,806.86 crore previously.
Revenue from petrochemicals saw a marginal increase of 0.9% or ₹61.11 crore to ₹6,789.42 crore, compared to ₹6,728.31 crore earlier.
Profit from petrochemicals plummeted by 86.50% or by ₹76.47 crore to ₹11.93 crore, compared to ₹88.40 crore earlier.
Revenue from other business activities was up 31.99% or by ₹2,778.55 crore to ₹11,462.83 crore, compared to ₹8,684.28 crore in the same quarter of the previous year.
Profit from other business activities rose 82.64% or by ₹353.25 crore to ₹780.67 crore from ₹427.42 crore prior.
How much was Indian Oil's expenses?
Indian Oil's total expenses increased by 4.44% or by ₹9,196.37 crore to ₹2,16,127.12 crore for the first quarter of 2024-25. The first quarter of the year prior saw total expenses of ₹2,06,930.75 crore.
The largest expense was cost of materials consumed, which stood at ₹1,18,567.84 crore. This was a 10.48% or ₹11,250.29 crore increase from the ₹1,07,317.55 crore during the same quarter of the previous year.
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Depreciation, amortization and impairment expenses increased by 18.01% or by ₹626.32 crore to ₹4,102.82 crore compared to ₹3,476.50 crore previously.
The company's inventory addition fell 86.91% or by ₹6,713.52. It was ₹1,010.39 crore this quarter, compared to ₹7,723.91 crore in Q1 2023-24.
IOCL's board has also approved the construction of a new greenfield Terminal at Bihta, Patna, Bihar on Barauni Kanpur product Pipeline (BKPL) and Patna-Motihari-Baitalpur Pipeline (PMBPL) at an estimated cost of Rs. 1,698.67 crores.
How did Indian Oil's shares perform?
IOCL shares closed at ₹183.00 on the Bombay Stock Exchange (BSE) after the trading session on Tuesday, July 30, 2024. This was an increase of 1.55% or 2.80 points.