Indian Oil Profit Rises Marginally To Rs 6,235 Crore In September Quarter, Dividend Declared

Indian Oil Q2 Results: Net revenue stood at Rs 6,235 crore within the September quarter

Indian Oil Corporation (IOC) introduced its July-September quarter outcomes for the monetary yr 2021-22, reporting a internet revenue of Rs 6,235.39 crore on a consolidated foundation, in comparison with Rs 6,160.70 crore within the corresponding interval final yr, marking a marginal development of 1.14 per cent year-on-year.

The state-run oil refiner's income from operations within the second quarter of the present fiscal stood at Rs 171,787.19 crore, in comparison with Rs 1,16,717.62 crore in the identical quarter final yr, making a development of 47 per cent year-on-year.

The firm's board declared an interim dividend of Rs 5 per fairness share. The interim dividend can be paid to eligible shareholders on or earlier than November 29, 2021, in response to a regulatory submitting by Indian Oil to the inventory exchanges right this moment.

''Due to outbreak of COVID-19 pandemic and consequent nationwide lockdown, the operations of the holding firm throughout April- September 2020 had been significantly affected. However, since then, the influence has considerably lowered as is obvious from the bodily efficiency throughout April- September 2021,'' stated Indian Oil in its assertion.

The whole revenue of the nation's largest gas retailer within the September quarter stood at Rs 172,646.31 crore, in comparison with Rs 117,870.77 crore within the year-ago interval. The working margin for the primary six months of the present fiscal stood at 6.65 per cent.

Indian Oil introduced yesterday that Mr V Satish Kumar took over cost as Director (Maketing) of the corporate. Earlier, he was the enterprise head of Madhya Pradesh & Chhattisgarh, taking care of retail and direct gross sales, LPG, amongst others.

On Friday, October 30, shares of Indian Oil settled 0.58 per cent decrease at Rs 128.05 apiece on the BSE.