Indian Oil Q3 Profit Soars to ₹12,126 Crore, Shares Gain on Strong Performance

• Indian Oil Corporation (IOC) reported a net profit of ₹12,126 crore for the December quarter, a significant increase from ₹7,610.5 crore in the September quarter.
• Revenue for Q3 grew by 14.3% year-on-year to ₹2.04 lakh crore, up from ₹1.78 lakh crore in the previous quarter.
• EBITDA surged by 42.8% sequentially to ₹20,824.8 crore, with EBITDA margin expanding by 200 basis points to 10.2%.
• Average Gross Refining Margin (GRM) for April-December stood at $8.41 per barrel, compared to $3.69 per barrel last year, with core GRMs at $9.86 per barrel.
• IOC shares gained 2% to ₹176.25 after the earnings announcement, reflecting a 40% increase over the last 12 months.