Indian Oil's profit Surges 41%

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Indian Oil's profit Surges 41%
01 Feb 2022
2 min read

News Synopsis

In the quarter ended, the profit of petroleum giant, Indian Oil, increased by 40.9 percent to Rs 6,143.08 crore. Indian Oil Corporation (IOC) has announced its financial results on Monday. 

The company's profit increased by 40.9 percent to Rs 6,143.08 crore. It has earned a profit of Rs 4,359.11 crore in the same period a year ago. Indian Oil Corporation's revenue from operations grew 35 percent year-on-year at Rs 1,99,375.30 crore from Rs 1,47,676.04 crore in the same period a year ago. 

The Company's Consolidated EBITDA at Operating Level grew 10 percent year-on-year to Rs 10,773.63 crore. But the company's margins decreased by 5.4 percent as compared to the previous year. The IOC has also announced a second interim dividend. This means that the company will pay an interim dividend of Rs 4 per share to its shareholders from now on.

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