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Business News/ Companies / Indian Oil registers 52% jump in profit for FY-2007, but Q4 net down
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Indian Oil registers 52% jump in profit for FY-2007, but Q4 net down

Indian Oil registers 52% jump in profit for FY-2007, but Q4 net down

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Mumbai: Indian Oil Corporation, the country’s top refiner, posted a 52% jump in net profit for the year ended 31 March 2007 to Rs7,500 crore. For the same period last year, the company had reported a net profit of Rs4,950 crore.

Net revenue for the year rose to Rs1,99,000 crore up from Rs1,65,000 crore, the company informed the Bombay Stock Exchange.

However, the company registered a 60% fall in profit in the last quarter of the fiscal, primarily due to cap on fuel prices. Profit for the quarter fell to Rs1,601 crore from Rs4,031 crore a year earlier, although revenue for the same period climbed to Rs55,410 crore from Rs51,420 crore in FY 2006.

The company’s board has declared a dividend of Rs13 a share.

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Published: 29 May 2007, 12:41 AM IST
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