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 (Bloomberg)


Indian Oil Corporation Ltd (IOCL) has announced its first quarter results for the financial year 2024-25 on Tuesday, July 30, 2024.

Indian Oil’s net profit plummeted 74.73% for the first quarter of 2024-25 (Bloomberg)

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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 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.



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