IOC board recommends 1:2 bonus issue of shares + Dividend

Indian Oil Corporation (IOC) on Tuesday reported a 31.4 per cent drop in the fourth quarter net profit

Indian Oil Corporation (IOC) on Tuesday reported a 31.4 per cent drop in the fourth quarter net profit on a margin squeeze in petrochemicals

Standalone net profit of Rs 6,021.88 crore, or Rs 6.56 a share, in January-March, compared with Rs 8,781.30 crore, or Rs 9.56 per share

in the same period a year back, the company said in a stock exchange filing.

Sequentially, the profit was higher than Rs 5,860.80 crore in the previous quarter.

With oil prices surging, revenue from operations rose to Rs 2.06 lakh crore in the final quarter of this fiscal year ending March 31 from Rs 1.63 lakh crore a year back.

IOC and other public sector oil companies held petrol and diesel prices for a record duration

despite a surge in the cost of raw materials (crude oil). They started raising prices only on March 22.

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