NEW DELHI: Indian Oil Corporation (IOC), the country’s largest public sector oil company, posted a net profit of Rs 8,781 crore in the March quarter.
The company’s president S M Vaidya told reporters on Wednesday. The company posted a personal net profit of Rs.8,781.30 crore through operations during the January to March quarter of 2020-21. This is more than anything else. At the same time, the company had lost Rs.5,185.32 crore during the corresponding period of the previous financial year 2019-20.
The profit margin from petrochemical stake for the company increased considerably in the fourth quarter. Brent crude oil prices were up 23 per cent in the March quarter.
During January-March 2020, the company’s refining profit to convert each barrel of crude oil into fuel was 9.64 talals, while in the current year, it has shifted to a loss of 10.6 talal spheries.
The company earned a net profit of Rs.21,836 crore in the financial year 2020-21, which ended on 31st Of Last Year. Revenue has come down from Rs 5,66,354 crore to Rs 5,14,890 crore. At the Motion Committee meeting on Wednesday, he said it was decided to pay rs.1.50 per share as final dividend for the last financial year.