![]() Revenue from operations rose to Rs 206 bn with a YoY growth of 26%. This was a result of margin squeeze in petrochemicals and losses on the auto fuel sales. However, the company's net profit showed a decline of 31.4% YoY to Rs 69.5 bn. IOC, in the March 2022 quarter, reported a total revenue growth of 43% YoY to Rs 177.3 bn. While FIIs increasing stake is a good thing, clearly domestic institutions have turned bearish on the stock and have consistently reduced their holding by a big margin.įor more details, you can have a look at Indian Oil Corporation's latest shareholding pattern. This holding in the company was down to 0.625% from 8.32% in the previous financial year.ĭuring the March 2022 quarter, IOC's mutual fund holding was also down to 2.29% from that of 3.38% in the previous quarter. IOC saw a huge change in the financial institution/banks holding. The movements done by the promoters, domestic institutional investors including mutual funds and financial institutions, and foreign institutional investors (FIIs) usually impact the market price of the stock. This fall in the margin has left shares of IOC with a negative impact. Since then, auto fuel net marketing margins have been negative. ![]() It further fell to negative 7.71 per litre in April 2022. The first negative marketing margin was reported in March 2022 at Rs 9.9 per litre. In the fourth quarter of 2022, the marketing margin for IOC was down Rs 2 per litre and it widened the company's loss to Rs 8.6 per litre. Marketing margin is the difference between the price of the raw material purchased to the finished goods price. Let's take a look at some reasons why this could have happened… The refineries are seeing a soaring GRMs (Gross Refined Margin) because of the price hikes in crude oil and natural gas.Īmid all this, shares of Indian Oil Corporation (IOC), the county's biggest oil firm, have been taken to the cleaners and has wiped away a quarter of its value in the past two months. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |