IndianOil Q2 results: Net profit at Rs 6,235 crore in September quarter
Indian Oil Corporation (IOC) announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 6,235.39 crore on a consolidated basis, as against Rs 6,160.70 crore in the corresponding period of the previous year . 1.14 per cent on an annual basis.
The state-run oil refiner’s revenue from operations stood at Rs 171,787.19 crore in the second quarter of the current fiscal, as against Rs 1,16,717.62 crore in the same quarter last year, registering a year-on-year growth of 47 per cent.
The Board of the Company declared an interim dividend of Rs.5 per equity share. According to a regulatory filing by IndianOil to the stock exchanges today, the interim dividend will be paid to eligible shareholders on or before November 29, 2021.
”Due to the outbreak of COVID-19 pandemic and consequent national lockdown, the operations of the holding company were significantly affected during April-September 2020. However, since then, the impact has waned significantly, as is evident from the physical performance during April-September 2021,” IndianOil said in its statement.
The country’s largest fuel retailer reported net income of Rs 172,646.31 crore in the September quarter, up from Rs 117,870.77 crore in the year-ago period. Operating margin stood at 6.65 per cent for the first six months of the current financial year.
IndianOil announced yesterday that Mr. V Satish Kumar has taken over as Director (Making) of the company. Prior to this, he was the business head of Madhya Pradesh and Chhattisgarh, looking after retail and direct sales, LPG, and others.
On Friday, October 30, Indian Oil shares closed at Rs 128.05, down 0.58 per cent on the BSE.
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