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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Indian Oil Corporation Limited    IOC   INE242A01010

INDIAN OIL CORPORATION LIMITED

(IOC)
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Indian Oil Swung to Fourth-Quarter Net Loss on $1.5 Billion Inventory Write-Down

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06/24/2020 | 06:57am EDT

By Kosaku Narioka

Indian Oil Corp. said it swung to a net loss in its fourth quarter as it was forced to write down the value of inventories by $1.5 billion due to sharp falls in oil prices amid the Covid-19 pandemic.

The Indian energy company said Wednesday that it booked a net loss of 77.83 billion rupees ($1.03 billion) for the quarter ended March 31, compared with a net profit of INR60.05 billion a year earlier.

Indian Oil said significant drops in oil prices led to the write-down of inventories totaling INR113.05 billion, which was treated as an exceptional loss.

Indian Oil said, nonetheless, that it had a positive view on its long-term business outlook and financial position and expected to comfortably pay down any debt and obligations.

On a stand-alone basis, net loss was INR51.85 billion, wider than the estimated net loss of INR34.04 billion from a FactSet poll of analysts.

Its group fourth-quarter revenue decreased 3.2% to INR1.424 trillion from INR1.471 trillion a year earlier.

 

Write to Kosaku Narioka at kosaku.narioka@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
INDIAN OIL CORPORATION LIMITED 1.45% 87.4 End-of-day quote.-30.39%
LONDON BRENT OIL -1.52% 42.17 Delayed Quote.-35.04%
WTI -1.42% 39.535 Delayed Quote.-35.40%
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Financials
Sales 2020 4 795 B 63 784 M 63 784 M
Net income 2020 60 352 M 803 M 803 M
Net Debt 2020 1 027 B 13 663 M 13 663 M
P/E ratio 2020 12,1x
Yield 2020 5,66%
Capitalization 800 B 10 651 M 10 647 M
EV / Sales 2019
EV / Sales 2020 0,38x
Nbr of Employees 32 803
Free-Float 26,7%
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Technical analysis trends INDIAN OIL CORPORATION LIM
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 120,27 INR
Last Close Price 87,40 INR
Spread / Highest target 106%
Spread / Average Target 37,6%
Spread / Lowest Target -25,6%
EPS Revisions
Managers
NameTitle
Shrikant Madhav Vaidya Chairman
Sandeep Kumar Gupta Chief Financial Officer & Finance Director
S. S. V. Ramakumar Director & Director-Research & Development
Govind Kottieth Satish Director, Director-Planning & Business Development
Vinoo Mathur Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
INDIAN OIL CORPORATION LIMITED-30.39%10 497
EXXON MOBIL CORPORATION-38.88%180 333
RELIANCE INDUSTRIES LTD27.80%158 635
BP PLC-38.34%74 012
CHINA PETROLEUM & CHEMICAL CORPORATION-27.08%67 600
PTT-14.77%34 889