Latest news with #IndianOilCorpLtd
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
IOCL shares trade volatile as Q1 misses estimates; Should you sell?
Shares of Indian Oil Corp Ltd (IOCL) were volatile on Tuesday, even as the company's net profit in the June quarter of the current financial year nearly doubled, amid a marginal rise in margins. The mixed movement came as the earnings missed the street's estimates. The oil refinery firm's stock fell as much as 1.07 per cent to ₹138.8 per share, the lowest level since June 23. However, the stock recouped losses to trade 0.33 per cent higher, compared to a 0.16 per cent advance in the benchmark Nifty50 as of 10:28 AM. The Indian Oil stock is up currently for the second straight session and has fallen nearly 10 per cent from its July peak. The shares have risen 3.2 per cent so far this year, compared to a 5.3 per cent gain in Nifty50. The company has a market capitalisation of ₹1.9 trillion as per BSE data. Track LIVE Stock Market Updates Here India Oil Corporation Limited Q1 results The firm reported a consolidated net profit of ₹6,813.71 crore for the first quarter of the financial year 2025-26 (Q1 FY26), jumping 93.1 per cent year-on-year (Y-o-Y) from ₹3,528.49 crore in Q1 FY25. However, on a sequential basis, the net profit was down by 16.1 per cent from ₹8,123.64 crore in the previous quarter. Oil major's revenue from operations in Q1 FY26 stood at ₹2.21 trillion, marginally higher by 0.9 per cent from ₹2.19 trillion in Q1 FY25. Sequentially, the revenue remained flat. Indian Oil's expenses for Q1 FY26 stood at ₹2.14 trillion, down 0.6 per cent from ₹2.16 trillion in Q1 FY25 but up 1.9 per cent sequentially from ₹2.12 trillion in Q4 FY25. Analysts on IOCL Q1 earnings IOCL's June quarter results missed Nuvama Institutional Equities and consensus estimates due to weak refining, petrochemicals, and inventory losses, partly offset by strong marketing margins. Nuvama said IOCL's peak earnings are behind, citing weak near-term refining margins, LPG under-recoveries, and subdued petrochemical performance. A high capital expenditure cycle is also expected to keep return ratios muted, making the risk-reward unfavourable. The brokerage maintained a 'Reduce' rating on the stock. Motilal Oswal downgraded the IOCL stock to 'Neutral', set its target price at ₹150 per share as the Q1 results came below its estimates due to higher-than-expected refining inventory losses. Antique Stock Broking remained constructive on IOCL, citing healthy auto-fuel margins, a recovery in GRMs, and 18 million tonnes of refining capacity expansion slated for completion over the next 12 months. Antique also highlighted the government's approval of LPG compensation, which reassures recovery of current and future losses. The brokerage maintained a Buy rating on IOCL but trimmed its target price to ₹195 from ₹200 earlier.
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Indian Oil Corp shares trade mixed as Q1 misses estimates; Should you sell?
Shares of Indian Oil Corp Ltd (IOCL) traded mixed on Tuesday, even as the company's net profit in the June quarter of the current financial year nearly doubled, amid a marginal rise in margins. The mixed movement came as the earnings missed the street's estimates. The oil refinery firm's stock fell as much as 1.07 per cent to ₹138.8 per share, the lowest level since June 23. However, the stock recouped losses to trade 0.33 per cent higher, compared to a 0.16 per cent advance in the benchmark Nifty50 as of 10:28 AM. The stock is up currently for the second straight session and has fallen nearly 10 per cent from its July peak. The shares have risen 3.2 per cent so far this year, compared to a 5.3 per cent gain in Nifty50. The company has a market capitalisation of ₹1.9 trillion as per BSE data. Track LIVE Stock Market Updates Here IOCL Q1 results The firm reported a consolidated net profit of ₹6,813.71 crore for the first quarter of the financial year 2025-26 (Q1 FY26), jumping 93.1 per cent year-on-year (Y-o-Y) from ₹3,528.49 crore in Q1 FY25. However, on a sequential basis, the net profit was down by 16.1 per cent from ₹8,123.64 crore in the previous quarter. Oil major's revenue from operations in Q1 FY26 stood at ₹2.21 trillion, marginally higher by 0.9 per cent from ₹2.19 trillion in Q1 FY25. Sequentially, the revenue remained flat. Indian Oil's expenses for Q1 FY26 stood at ₹2.14 trillion, down 0.6 per cent from ₹2.16 trillion in Q1 FY25 but up 1.9 per cent sequentially from ₹2.12 trillion in Q4 FY25. Analysts on IOCL Q1 earnings IOCL's June quarter results missed Nuvama Institutional Equities and consensus estimates due to weak refining, petrochemicals, and inventory losses, partly offset by strong marketing margins. Nuvama said IOCL's peak earnings are behind, citing weak near-term refining margins, LPG under-recoveries, and subdued petrochemical performance. A high capital expenditure cycle is also expected to keep return ratios muted, making the risk-reward unfavourable. The brokerage maintained a 'Reduce' rating on the stock. Motilal Oswal downgraded the IOCL stock to 'Neutral', set its target price at ₹150 per share as the Q1 results came below its estimates due to higher-than-expected refining inventory losses. The brokerage noted that IOCL is set to commission multiple projects over the next two years, which should drive growth acceleration, the brokerage said Antique Stock Broking remained constructive on IOCL, citing healthy auto-fuel margins, a recovery in GRMs, and 18 million tonnes of refining capacity expansion slated for completion over the next 12 months. Antique also highlighted the government's approval of LPG compensation, which reassures recovery of current and future losses. The brokerage maintained a Buy rating on IOCL but trimmed its target price to ₹195 from ₹200 earlier.
Time of India
05-07-2025
- Business
- Time of India
Indian Oil using solar power at 36,000 retail outlets in push to green energy
Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Friday that self-reliance in electricity is crucial for a self-reliant India and solar energy is playing a significant role in this. The minister highlighted that in accordance with Prime Minister Narendra Modi's vision, Indian Oil Corp Ltd has expanded this strength of India by fully solarising its over 36,000 retail outlets, where most operations are powered by solar energy. This commendable effort not only saves on electricity bills but also makes an invaluable contribution to building a 'Green India,' the minister observed in a post on X social media platform. He said, "New India is moving forward on the mantra of complementary aspects of economy and environment. Whether it's the roof of a home, an office, or a factory... if there's even a little space, utilise solar energy. It is proving to be a major means of meeting energy needs." India's solar energy capacity has taken a massive leap in the last 11 years — from a mere 2.82 GW in 2014 to an impressive 105.65 GW as of March 31 this year, according to official figures. The total installed solar capacity of 105.65 GW comprises 81.01 GW from ground-mounted installations, 17.02 GW from rooftop solar, 2.87 GW from solar components of hybrid projects, and 4.74 GW from off-grid systems. The growth demonstrates continued uptake of solar energy across utility-scale and distributed categories. The expansion in the installation of solar power generation capacity has been backed by a robust domestic production of solar cells and wafers which was almost non-existent in 2014. India has now built a strong foundation with 25 GW of solar cell production and 2 GW of wafer production. Puri also highlighted that the number of Income Tax returns filed has increased from 3.6 crore in the financial year 2013–14 to 8.5 crore in the financial year 2024–25, with 95 per cent processed within 30 days. These figures reflect India's emerging financial culture. When taxation is managed honestly, it becomes a powerful medium of empowerment. This can be seen in the welfare schemes of the Modi government, he added.>
Time of India
05-07-2025
- Business
- Time of India
Indian Oil using solar power at 36,000 retail outlets in push to green energy
Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Friday that self-reliance in electricity is crucial for a self-reliant India and solar energy is playing a significant role in this. The minister highlighted that in accordance with Prime Minister Narendra Modi's vision, Indian Oil Corp Ltd has expanded this strength of India by fully solarising its over 36,000 retail outlets, where most operations are powered by solar energy. This commendable effort not only saves on electricity bills but also makes an invaluable contribution to building a 'Green India,' the minister observed in a post on X social media platform. He said, "New India is moving forward on the mantra of complementary aspects of economy and environment. Whether it's the roof of a home, an office, or a factory... if there's even a little space, utilise solar energy. It is proving to be a major means of meeting energy needs." India's solar energy capacity has taken a massive leap in the last 11 years — from a mere 2.82 GW in 2014 to an impressive 105.65 GW as of March 31 this year, according to official figures. The total installed solar capacity of 105.65 GW comprises 81.01 GW from ground-mounted installations, 17.02 GW from rooftop solar, 2.87 GW from solar components of hybrid projects, and 4.74 GW from off-grid systems. The growth demonstrates continued uptake of solar energy across utility-scale and distributed categories. The expansion in the installation of solar power generation capacity has been backed by a robust domestic production of solar cells and wafers which was almost non-existent in 2014. India has now built a strong foundation with 25 GW of solar cell production and 2 GW of wafer production. Puri also highlighted that the number of Income Tax returns filed has increased from 3.6 crore in the financial year 2013–14 to 8.5 crore in the financial year 2024–25, with 95 per cent processed within 30 days. These figures reflect India's emerging financial culture. When taxation is managed honestly, it becomes a powerful medium of empowerment. This can be seen in the welfare schemes of the Modi government, he added.>
