Indian Oil Q4FY23 PAT up 54.8% at Rs10,290 crore on sharply higher gross refining margins (GRMs) in Q4

Indian Oil reported 16.31% growth in revenues for the March 2023 quarter on consolidated basis at Rs203,872cr on the back of robust GRMs and favourable inventory valuations. The core petroleum products business saw 10.7% higher revenues on yoy basis while the revenues of the petrochemicals business was lower yoy by -21.6%. The other business activities of IOCL also reported higher revenues in the quarter.

For Q4FY23, the operating profits from the core oil refining and marketing business was up 37% yoy at Rs13,694 crore largely helped by improved GRMs in the quarter and better inventory valuations. However, the operating profits of petchem business halved yoy on volatile crude prices and weak petchem margins. While the trade receivables turnover has gone up in the quarter, the inventory turnover has gone down.

Financial highlights for Mar-23 compared yoy and sequentially

Indian Oil Corp

Rs in CroreMar-23Mar-22YOYDec-22QOQ
Total Income (Rs cr)₹ 2,03,872₹ 1,75,28816.31%₹ 2,05,715-0.90%
Operating Profit (Rs cr)₹ 13,702₹ 10,88325.91%₹ 1,747684.46%
Net Profit (Rs cr)₹ 10,290₹ 6,64654.83%₹ 7731230.76%
Diluted EPS (Rs)₹ 7.47₹ 4.83 ₹ 0.56 
OPM6.72%6.21% 0.85% 
Net Margins5.05%3.79% 0.38% 


The spike in profits was on account of gross refining margins in the quarter and better inventory valuations. The OPM was up from 6.21% to 6.72% on a yoy basis in the fourth quarter while net margins were higher at 5.05% compared to 3.79% in the year ago quarter. IOCL has also been the beneficiary of marketing compensation from the government.

Top stories

Delta Corp Q1 PAT Declines 68% YoY to Rs 22 crore in FY25

4 mins read . 13 Jul 2024 . 09:30 AM


Zydus Life Gets USFDA Nod for Heart Failure Drug

3 mins read . 13 Jul 2024 . 09:23 AM


RVNL Spurts 10% on Bagging Multiple Orders Worth Rs 390 Cr

4 mins read . 13 Jul 2024 . 09:18 AM

Related Blogs

Share Market


12 mins read . 12 Jul 2024

Ritesh Agarwal: The OYO Founder’s Success Story

  • 0 people read

Share Market


15 mins read . 08 Jul 2024

Best Oil & Gas Stocks in India

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions