IOC Q3 Profits Doubles to Rs 7,833 Cr Exceeding Expectations, 1:1 Bonus to be Issued
Indian Oil Corporation (IOC) beat analysts expectations in third-quarter earnings for December 2017. The standalone profits doubled to Rs 7,883 crores from Rs 3,696.3 crores.
Business
oi-Olga
By Olga
Indian Oil Corporation (IOC) beat analysts expectations in third-quarter earnings for December 2017. The standalone profits doubled to Rs 7,883 crores from Rs 3,696.3 crores.
IOC Q3 Profits Doubles to Rs 7,833 Cr, 1:1 Bonus to be Issued
The oil marketing company's revenue from operations grew to Rs 1.1 lakh crore with a 22.2% increase compared to Rs 90,567 crore in Q2.
Operating profit grew by 80% to Rs. 13,269 crore and there was a margin expansion of 390 basis points at 12%.
IOC Board has approved a bonus share issue in the proportion of one share for every share and has announced an interim dividend of Rs 19 per share.
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