India’s biggest oil firm corporation, Indian Oil reported a drop in its consolidated net profit during its fourth-quarter by 26.36%. This was due to the margin squeeze in petrochemicals and losses in auto fuel sales. The share is currently trading at ₹117.60 on the NSE and ₹117.65 on the BSE.
The Company reported a consolidated net profit of ₹6,646 crores for the fourth quarter of FY22 which is a decline compared to the consolidated net profit of ₹9,026 crores during the corresponding quarter last year. Although, the profit was higher than the previous quarter which was ₹6143 crores.
It reported consolidated revenue of ₹1,75,292 crores during Q4FY22 which was an increase compared to the consolidated revenue of ₹1,19,874 crores during the corresponding quarter last year. For the fiscal year 2021-22, IOC posted revenue of 7.28 lakh crores, which is the highest ever revenue recorded by any Indian corporate.
The Board of the company has recommended the issue of bonus shares in the ratio of 1:2, which means investors will receive 1 bonus share for every 2 shares they hold. The Ex-date for the bonus shares is 30-06-2022 and the record date is 01-07-2022
The company has also recommended a final dividend of ₹3.60 per equity share having a face value of ₹10 each, before the bonus, which translates into a final dividend of ₹2.40 per equity share having a face value of ₹10 each, after a bonus for FY21-22.
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