Earnings Summary Of Indian Oil Corporation Limited For Q3 FY23

Indian Oil Corporation Limited (NSE: IOC) is a Maharatna company and the largest commercial enterprise in India with a turnover of over $85 billion. It is engaged in refining, pipeline transportation, and marketing of petroleum products.

The company has a refining capacity of 80.7 million metric tonnes per annum (MMTPA) and a pipeline network of over 17,000 km. It operates 11 refineries in India, including one of the world’s largest grassroots refineries at Paradip, and has a presence in over 25 countries.

IOC’s major business segments are Petroleum products, Petrochemicals & Other Business. The Petroleum products segment contributes around 94.5% of the company’s revenue, while the Petrochemicals segments contribute around 4% and the rest by the Other Business segment.

In terms of earnings, Revenue from Operations for Q3 FY23 was ₹2,32,303.20 crore, a 16.5% increase from ₹1,99,371.75 crore in the same period last year. The third quarter’s other income, which contributed ₹1,573.26 Crore to the Total Revenue. Consolidated Net Profit was ₹2,216.93 crore, down from ₹4,743.15 crore in the same quarter last year. This quarter’s earnings per share was ₹0.56. Meanwhile, the Debt-Equity ratio increased to 1.17 from 0.79 from the same quarter previous year. The  In the same time period, the company’s Tax Expense increased up to 0.77 from 0.75.