IOCL Q1 Preview: Oil PSU's profit expected to rise 6% to Rs 10,673 crore

IOCL Q1 Preview: Zee Business Research estimates that Indian Oil Corporation Limited (IOCL) is likely to report a profit after tax of Rs 10,673 crore as the state-run oil company announces its first-quarter results on July 28 (Friday) .

IOCL's PAT in Q1 FY24 will be 6 per cent more than the Rs 10058.70 crore it filed in the previous quarter.

Analysts estimate the company's revenue for the quarter under review will slip 3.1 per cent, from Rs 202,994.1 crore in Q4 FY23 to Rs 196,741 crore in the current quarter.

Analysts say that the falling prices of crude oil are expected to increase the company's marketing margin from 7.55 per cent in the previous quarter to 9.11 per cent in the April-June quarter.

The public sector undertaking company's earnings before interest, taxes, depreciation, and amortisation (EBITDA), which is a key measure of core corporate profitability of a company, is set to rise 17 per cent in the quarter under review, from Rs 15,328.8 crore to Rs 17,923 crore.

While the EBIDTA is most likely to see a significant rise, the company is also expected to register growth in its domestic retail sales.

However, there can be a dip in its throughput and it can slide 2 per cent QoQ as well as on a Year-on-Year basis.

Another parameter that is expected to plunge in the quarter ended June 30 will be Singapore GMR, as it can dip 80 per per YoY and 50 per cent QoQ.

Analysts expect Rs 3 per litre blended margins in the April-June period as against Rs 9 in the January-March quarter.