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.