IOC’s profit decreased by 31 percent in the fourth quarter, earned record profit in 2021-22

Indian Oil Q4 Result: Indian Oil Corporation (IOC) reported a decline in net profit in the fourth (January-March) quarter of the last financial year. The company’s net profit declined by 31.4 percent. The company said on Tuesday that this has happened due to falling margins in the petrochemical business and loss on sales of auto fuels.

How was the profit last year?
The company reported a standalone net profit of Rs 6,021.88 crore or Rs 6.56 per share in January-March. The figure was Rs 8,781.30 crore or Rs 9.56 per share in the same period a year ago. However, the profit was higher than the previous quarter’s Rs 5,860.80 crore.

How much bonus will you get?
Operating costs rose to Rs 2.06 lakh crore in the March quarter on the back of a jump in oil prices, from Rs 1.63 lakh crore in the same period last year. The board of the company has recommended issuance of bonus shares in the ratio of 1:2. Under this, a new bonus share of face value of Rs 10 will be given for every two existing equity shares.

The board first declared a dividend of Rs 3.60
The board also declared a final dividend (before bonus) of Rs 3.60 per equity share. The company reported a record net profit of Rs 30,443.93 crore during the entire financial year 2021-22, which is 15 per cent higher than the previous financial year.

7.28 lakh crore income
The company said that for the financial year 2021-22, it has earned an income of Rs 7.28 lakh crore on a standalone basis, which is the highest compared to other Indian companies. IOC said that after including the earnings of subsidiaries like CPCL, the consolidated income of the company is Rs 7.36 lakh crore.

Earlier Reliance had released the figures
Earlier this month, Reliance Industries had reported revenue of Rs 7.92 lakh crore in 2021-22. This is the highest revenue for an Indian company, but it also includes the GST that the company collects from the government on the sale of its products. It has to be transferred to the government. GST is not included in the income of IOC.

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