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Indian Oil Corporation Q4 profit jumps 79% to Rs 8,781.3 crore

By Priyanka Verma 
Updated Date

State-run oil marketing company Indian Oil Corporation on May 19 reported standalone profit at Rs 8,781.3 crore in the quarter ended March 2021, rising 78.6 percent compared to Rs 4,916.59 crore in previous quarter.

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The standalone revenue from operations grew by 11.6 percent sequentially to Rs 1,63,605.67 crore in March 2021 quarter.

Other income during the quarter at Rs 1,101.67 crore declined 13.2 percent compared to previous quarter.

“Other Income for the year April-March 2021 includes foreign exchange gain of around Rs 1,257.62 crore against exchange loss of Rs 4,145.53 crore included in other expenses in April-March 2020,” said IOC in its BSE filing.

In the COVID year, financial year FY21, the standalone profit shot up significantly to Rs 21,836.04 crore compared to Rs 1,313.23 crore in previous year. Revenue during the year fell 9.1 percent to Rs 5,14,890.7 crore.

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IOC has recommended a final dividend of Rs 1.50 per share for the financial year 2020-21. “This final dividend is in addition to the interim dividend(s) of Rs 10.50 per share paid for the financial year 2020-21,” said the company in its BSE filing.

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