Indian Oil Corporation (IOC) disclosed a steep drop in standalone net profit for the quarter ended March 2015. During the quarter, the profit of the company declined 33.06% to Rs 62,853.50 million from Rs 93,898.50 million in the same quarter previous year.
Revenues for the quarter declined 30.43% to Rs 938,320.30 million, compared with Rs 1,348,674.20 million for the prior year period. Lower oil prices led to a drop in the revenues.
Earnings per share for the quarter stood at Rs 25.89, registering 33.05% decline over previous year period.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Mar - 15 | Mar - 14 | %Change |
| Revenues | 938,320.30 | 1,348,674.20 | (30.43) |
| Net Profit | 62,853.50 | 93,898.50 | (33.06) |
| Diluted EPS | 25.89 | 38.67 | (33.05) |
Shares of the company gained Rs 4.25, or 1.18%, to trade at Rs 365.10. The total volume of shares traded was 238,974 at the BSE (2.04 p.m., Friday).
