 "Indian Oil Corp, iocl")
Indian Oil Corporation Limited on Tuesday reported a 49.96 per cent year-on-year fall in consolidated net profit at Rs 5,148.87 crore for the quarter that ended on March 31 in financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 10,289.82 crore during the same period last year (Q4FY23).
Sequentially, the net profit went down 42.97 per cent from Rs 9,029.56 crore in the last quarter.
The company's revenue from operations dropped by 3.06 per cent to Rs 2,23,649.85 crore in Q4, compared to Rs 2,30,711.56 crore reported in the year before. On a quarter-on-quarter basis, the revenue for operations stood at Rs 2,26,892.08 crore.
The company reported a total income of Rs 2,25,103.37 crore for Q4. This was a 2.96 per cent decrease from Rs 2,31,989.60 crore reported during the year-ago period. On a quarter-on-quarter basis, the total income was down 1.33 per cent. It was Rs 2,28,160.31 crore in Q3FY24.
For the entire financial year, the company reported a rise in net profit by 326.15 per cent at Rs 41,729.69 crore, compared to Rs 9,792.12 crore reported at the end of FY23.
The company's revenue from operations for FY24 decreased by 7.37 per cent at Rs 8,81,235.45 crore, compared to Rs 9,51,409.94 crore in the previous financial year. The company's total income decreased by 7.38 per cent at Rs 8,85,078.30 crore in FY24, compared to Rs 9,55,671.64 crore reported in FY23.
On Tuesday, Indian Oil Corporation Limited announced an interim dividend of Rs 7 per share.
At 3:20 pm, the stock price of the company was trading at Rs 168.85.
