Sequentially, the company's net profit fell from ₹3,528.5 crore recorded in the preceding quarter.
The sharp reduction in net profit in Q2 came due to a crash in average gross refining margins (GRM)—the revenue refiners accrue from transforming each barrel of crude oil into refined fuel products. IOCL reported that the average GRM stood at $4.08 per barrel in the first two quarters of FY25. This was 68.9 per cent lower than the $13.12 per barrel recovered in the same period of FY24.
Esta historia es de la edición October 29, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición October 29, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Ireland govt signs up TCS to enhance worker enrolment
IT services major Tata Consultancy Services (TCS) announced on Tuesday that it has secured a 15-year contract with Ireland's Department of Social Protection (DSP) to implement and support the country's new Auto Enrolment Retirement Savings Scheme, known as the were not disclosed, such long-tenure \"My Future Fund.\" contracts are typically categorised as large deals.
Compare developer's price with resale rate to ensure authenticity
During the festive season, which lasts from October to December, the feel-good atmosphere often encourages potential homebuyers to take the plunge. Developers make attractive offers during this period to nudge the fence-sitters.
Asset quality risk, a worry for IndusInd
Amid headwinds, the bank faces uncertainty over CEO extension
NTPC Green Energy IPO to unlock value
The news that NTPC Green Energy (NGEL), a wholly-owned subsidiary of NTPC, has clearance from the Securities and Exchange Board of India (Sebi) to raise ₹10,000 crore via an initial public offering (IPO), was a trigger for the NTPC stock.
Realty cos raise over ₹12.8K cr via QIPs during Jan-Sep '24
Listed real estate companies have raised ₹12,801 crore via qualified institutional placements (QIPs) in the first nine months of 2024 as they turned to IPO and QIPs to fund their aggressive expansion amid strong post-pandemic demand, a report by real estate consultant Anarock said.
Markets gain on positive global cues
Rising for the second straight session, equity benchmark indices Sensex and Nifty closed higher on Tuesday, helped by fag-end buying in banking counters and a firm trend in global markets.
Record-breaking real estate IPOs raise ₹13.5K cr in 2024
India's real estate sector witnessed a record surge in initial public offerings (IPOs), with 123 IPOs listed till October 20 this year, already surpassing the total for 2023, signaling economic optimism and ample market liquidity.
AMC rally may gain further steam after robust Q2 showing
Brokerages raise targets as AMCs deliver earnings surprise
73,600x surge in 2 days: Elcid now India's 'priciest' stock
A little-known smallcap company, Elcid Investments, took a giant leap into the history books after its shares surged a staggering 73,600 times in two days to become the priciest stock in absolute terms, surpassing tyre major MRF.
Sellers refuse to let their business bomb
From shops filled with electric diyas to 'sound-only' toys, New Delhi is adapting to yet another Diwali with a ban on firecrackers.
