Indian Oil Corporation (IOC), the nation’s largest oil firm, on Tuesday reported returning to profitability in the December quarter after losses in the preceding six months from holding fuel prices despite a rise in cost.
Standalone net profit of Rs 448.01 crore in October-December 2022 compared with Rs 5,860.80 crore net earning in the same period of previous fiscal, and a loss of Rs 272.35 crore in the preceding July-September 2022 period, according to a company’s stock exchange filing.
Coal India
Coal India on Tuesday said its net profit in the third quarter was Rs 7,719 crore, up 69 per cent from Rs 4,557 crore a year ago.
The company’s net sales were up 25 per cent to Rs 32,429 crore compared with Rs 25,991 crore in Q3FY22.
Coal India said that though the auction volumes were lower by 44 per cent in Q3FY23, higher e-auction premium has helped the public sector miner to crank up sales by Rs 2,341 crore.
Realisation per tonne of coal was Rs 5,046 under the auction segment during Q3FY23 against Rs 1,947 per tonne for Q3FY22.
Realisation under fuel supply agreement was also up 8.2 per cent during the quarter.
Coal India’s board also gave an approval for a second interim dividend of Rs 5.25 per share having earlier declared a dividend of Rs 15 per share.
Sun Pharma
Sun Pharma on Tuesday said its consolidated net profit increased 5 per cent to Rs 2,166 crore in the December quarter of 2022-23, helped by robust sales across domestic as well as the US market.
The Mumbai-based company had logged a net profit of Rs 2,059 crore in the year-ago period. Total revenue from operations rose to Rs 11,241 crore from Rs 9,863 crore in the year-ago quarter.
Shriram Finance
Shriram Finance, the newly-formed combined financial services entity of the Chennai-based Shriram Group, on Tuesday reported a consolidated net profit of Rs 1,777 crore for the December quarter of FY2022-23.
The numbers are not comparable as the merger of Shriram Transport Finance Company, Shriram City Union Finance and Shriram Capital into Shriram Finance took place only in early December last year.
