Indian Oil Q4 profit plummets 50% to ₹5,148.87 cr
The company's revenue from operations also fell by 3.06% to ₹2,23,649.85 crore in Q4FY24
The company's revenue from operations also fell by 3.06% to ₹2,23,649.85 crore in Q4FY24
Indian Oil is anticipating a rise in demand for batteries for two- and three-wheeler vehicles and energy storage systems in the Indian market
In FY23, India spent $157.5 billion on importing 232.7 million tonnes of crude oil.
High crude oil prices will weaken the profitability of the three state-owned oil marketing companies in India, says Moody's.
Shares of Indian Oil Corporation Ltd rose as much as 4% to ₹87.65 apiece on the NSE
The JV agreement between the two PSUs is in line with the central government’s decarbonisation push towards a low carbon future and net zero emissions.
The debutant that ranks at No.2 on Fortune 500 India list comes with a rich legacy, but post-listing it needs to prove its chops.
Elite top 500 club of India Inc. records best-ever topline growth of 35% to ₹119 lakh cr and impressive 60% jump in profit to ₹9.97 lakh cr. Hyper-growth narrative may, however, change next year.
The smallcap stock has nearly doubled to ₹2,982.60 in intraday today, from its 52-week low of ₹1,500.70 on July 29, 2022.
The windfall tax on domestically produced crude oil has been hiked to ₹10,200 per tonne from ₹9,500 per tonne, whereas the tax of export of diesel has been slashed to ₹10.5 per litre.