IOCL declines 4% after slipping into loss in Q2 from profit a year ago

Quick Summary:

IOCL reported a net loss of Rs 169.58 crore as compared to a net profit of Rs 13,114.3 crore in Q2FY24.

In the past one year, IOCL shares have gained 66.66 per cent against Sensex's rise of 24.7 per cent.

The decline in net profit can be attributed to a crash in average gross refining margins (GRMs)—the revenue refiners accrue from transforming each barrel of crude oil into refined fuel products.

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Category: BusinessFinance

Markets: India

Topics: Indian oil corporation Sensex Ioc q2 results 2024 Nse Stock market today Ioc share price Ioc share Markets Buzzing stock Bse Q2 results Nifty Ioc results

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Article Type: News Report

Published On: 2024-10-29 @ 11:33:13 (6 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 524 words

Reading Time: 3 minutes read

Sentences: 21 lines

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News ID: 23320143

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