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IOCL: The goliath marches

Jan 29, 2003

The oil giant, Indian Oil Corporation (IOC), has reported a healthy growth in its topline as well as its bottomline. The company reported 10% increase in topline for 3QFY03, which has been the highest in all quarters in FY03, while its net profits have grown by a considerable 37% in the December quarter. Though the operating margins have fallen, significant savings in interest costs have helped the bottomline growth.

(Rs m) 3QFY02 3QFY03 Change 9mFY02 9mFY03 Change
Net Sales 284,169 312,122 9.8% 867,880 891,100 2.7%
Other Income 1,669 2,357 41.2% 7,974 10,534 32.1%
Expenditure 269,721 299,552 11.1% 833,046 825,935 -0.9%
Operating Profit (EBDIT) 14,448 12,571 -13.0% 34,834 65,164 87.1%
Operating Profit Margin (%) 5.1% 4.0%   4.0% 7.3%  
Interest 3,611 1,764 -51.2% 11,930 6,359 -46.7%
Depreciation 3,805 4,207 10.6% 10,954 11,788 7.6%
Profit before Tax 8,701 8,958 2.9% 19,924 57,552 188.9%
Tax 3,023 1,192 -60.6% 4,052 18,399 354.1%
Profit after Tax/(Loss) 5,678 7,766 36.8% 15,872 39,152 146.7%
Net profit margin (%) 2.0% 2.5%   1.8% 4.4%  
No. of Shares 778.7 778.7   778.7 778.7  
Diluted Earnings per share* 29.2 39.9   27.2 67.0  
P/E Ratio         3.7  
*(annualised)            

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