Indian Oil Q3 results to be announced today
NEW DELHI: Indian Oil Corporation is all set to announce its earnings for the quarter ending December 2019 today i.e. Thursday, January 30.
The stock of the oil company has been quite volatile since the news of BPCL (Bharat Petroleum Corporation Limited) divestment and reports that IOC has been looking at bidding for BPCL.
According to market experts, IOC is expected to post a good performance report on a quarter on quarter (QoQ) basis as inventory gains are expected to be higher owing to the crude price movement and company’s inventory cycle.
In the previous quarter (Q2), the company reported a 82.65 per cent year-on-year fall in profit at Rs 563.42 crore due to shutdowns, high inventory losses and delayed monsoons that impacted demand for fuel.
