IOCL digs up huge profits in Q1FY17 and declares 1:1 bonus

Indian Oil Corporation (IOCL) has declared its Q1FY17 results on Monday. The company’s revenue has declined by 5.75 per cent to Rs 107201 crore in Q1FY17 as compared to same period in previous financial year. Its EBITDA too has risen by 33.02 per cent to Rs 13684 crore in Q1FY17 on a yearly basis. IOCL’s EBITDA margin has expanded by 372 basis points to 12.76 per cent in Q1FY17 as compared to same period in previous fiscal. The company’s net profit also has boosted by 30.39 per cent to Rs 8630 crore in Q1FY17 on a yearly basis. Its net profit margin has expanded by 223 basis points to 8.05 per cent in Q1FY17 as compared to same period in previous financial year.

On the segmental revenue front, IOCL has earned 93.68 per cent from petroleum products, 4.27 per cent from petrochemicals and 2.05 per cent from other business activities during Q1FY17.

The board of directors of IOCL have recommended issue of bonus shares in the ratio of 1:1 i.e. one equity bonus share of Rs 10 each for every one existing equity share of Rs 10 each, which will be fully paid up subject to the approval of the shareholders.

The share price of IOCL has declined by 1.19 per cent on bourses in early trades; and is trading at Rs 569.5 on an intraday basis.