Indian Oil Corporation's standalone PAT at Rs2,339cr; stock dips 1%

Indian Oil Corporation posted a standalone net profit at Rs2,339cr, which rose by 315.1% in Q3FY20 as against Rs563cr in Q3FY19. The revenue of the company also stood higher by 1.24 lakh cr in Q3FY20 vs. 1.11 lakh cr in Q3FY19.

EBITDA was up 86.2% to Rs6,650cr and Margin stood at 5.34% in Q3FY20.

Average Gross Refining Margin for the period April-Dec 2019 stood at $3.34 per bbl vs. $5.83 per bbl in April-Dec 2018.

Indian Oil Corporation Ltd is currently trading at Rs116.85, down by Rs1.45 or 1.23% from its previous closing of Rs118.30 on the BSE.

The scrip opened at Rs120 and has touched a high and low of Rs120.20 and Rs116.20 respectively.

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