Indian Oil Corporation (IOC), India’s biggest oil firm, on Wednesday reported a net profit of Rs 8,781.30 crore for the January-March quarter, helped by higher refining margins.
The standalone net profit in January-March was Rs 8,781.30 crore, or Rs 9.56 a share, compared with a loss of Rs 5,185.32 crore in the same period a year back, the company said in a statement.
Revenue from operation jumped to Rs 1.63 lakh crore from Rs 1.39 lakh crore last year. The company sold more petroleum products in the fourth quarter of 2020-21 fiscal at 21.2 million tonnes as opposed to 20.69 million tonnes in the previous year.
For the fourth quarter of FY21, the Maharatna company’s product sales volumes, including exports was 22.591 million tonnes. The refining throughput was 17.592 million tonnes and the throughput of its country-wide pipelines network was 21.849 million tonnes during the same period, the statement added.
The Board of Directors of IOC have declared a final dividend of Rs 1.50 per equity share.