Maharatna PSU Company Declares 52% YoY Jump In Net Profit, 30% Final Dividend

Leading Maharatna PSU company operating in gas & petroleum sector, Indian Oil Corporation Ltd on Tuesday declared 52% YoY jump in its consolidated net profit to Rs 10,841 crore for the quarter ended March 2023 as against Rs 7089 crore announced in the year ago period. The board of directors of IOCL recommended a final dividend of Rs 3/- per equity share. Check details below:

Indian Oil Corporation Ltd Declares Dividend: According to the BSE filing of the company, "It is further informed that the Board has recommended a final dividend of 30% for the year 2022-23 i.e. Rs. 3/- per equity share of face value of Rs.10/- each on the paid-up share capital, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company."

Indian Oil Corporation Stock Performance & Return: The last trading price of IOC is Rs 87.00 apiece with intraday gain of 3.31% on BSE. The stock's 52-week high price is Rs 87.67 apiece and 52-week low price is Rs 65.20 apiece, respectively. The company's market capitalisation is Rs 1,22,854.77 crore. The shares of IOC gave return of 25% in last 6-months, 7% in last 1-year, 29% in last 2-years, and 72% return in last 3-years. The shares of IOC witnessed a decline of 21% in last 5-years.

Indian Oil Corporation Q4: It is worth noting that IOC's revenue from operations rallied 10% year-on-year (YoY) to Rs 2.30 lakh crore for the March quarter as against Rs 2.09 lakh crore declared in the corresponding quarter of last year. Meanwhile, the revenue from the other business activities surged 21% to Rs 8,798 crore for the quarter under consideration as against Rs 7,253 crore declared in the same quarter last year. For the entire year ending March 2023, IOC's net profit declared at Rs 11,704 crore as against Rs 25,726 crore announced in 2022 fiscal.

Indian Oil Corporation About: Indian Oil Corporation Limited is a Government of India undertaking formed in 1964 by the merger of Indian Oil Company Limited with Indian Refineries Limited. The Corporation has five divisions including the Refineries Division, according to its official website.