Indian Oil Corporation Q1 Results; Net Profit Declined 40%:
To begin with, Indian Oil Corporation Ltd. announced, its net loss of Rs. 2,226.80 Cr with a 40.42% loss on July 31st. While the company also posted its consolidated net loss of Rs. 3,737.50 Cr in the same quarter last year.
Besides, the company’s total revenue stood at Rs. 90,106.48 Cr with a 40.91% loss in this quarter ended on 30th June. The company also posted its revenue of Rs. 1,31,512.46 Cr in the same quarter last year.
Furthermore, the company on July 31st reported its Q1FY21 result. The company consolidated EBITDA margin raised by 130 basis points in a year.
Indian Oil Corporation Limited shares traded with a loss of 2.25 points reached 491.50 INR with 0.46% down. Its previous close at 493.75 INR. The company shares traded on the National Stock Exchange.
Stock Market Update:
Stock Market July 31st: On Friday, both Sensex and Nifty seem to trade in a bearish trend in the stock market. The Sensex stood traded loss with 37,606.89 levels and Nifty stood traded loss with 11,073.45 levels. The Sensex declined 129.18 points with a 0.34% loss. Besides, Nifty has declined 28.70 points with a 0.26% loss.
On the other hand, the number of confirmed or coronavirus cases in India reached 16,97,054 as of August 1st, and deaths reached 36,551.
In the border market, the S&P BSE Midcap index reported a bullish trend in the stock market on 31st July. It raised 49.39 points with a 0.36% gain and reached a 13,759.11 level. The S&P BSE Smallcap index raised 105.49 points with a 0.82% gain and reached a 13,021.76 level. However, the Nifty Bank declined 6.80 points with a 0.031% loss and reached a 21,640.05 level.