Business News/ Markets / Stock Markets/  IOCL hits fresh 52-week high post Q4 earnings

The shares of Indian Oil Corporation (IOCL) shares have hit a fresh 52-week high post March quarter results. The state-owned energy major posted has reported 52 per cent jump in consolidated net profit to 10,841.23 crore for the quarter ended March 2023.

The company's scrip ended 3.31 per cent up at 87 on BSE on Tuesday. The stock rose by 4.11 per cent intraday to 87.67 against the previous close of 84.21 on BSE.

It has gained 8.21 per cent in the last one year. It hit a 52-week low of 65.20 on September 29, 2022.

Indian Oil Corporation on Tuesday reported 52 per cent jump in consolidated net profit to 10,841.23 crore for the quarter ended March 2023. This is against a net profit of 7,089.18 crore in the corresponding quarter last fiscal.

On a sequential basis, net profit soared multifold from 890 crore recorded in the December quarter.

The consolidated revenue from operations rose by 10 per cent to 2,30,711.56 crore in the quarter under review from 2,09,045.44 crore in the year ago period.

The Board has also recommended a final dividend of 30% for the year 2022-23, which is 3 per equity share of face value of 10 each. The said dividend payment is subject to the approval of the shareholders at the annual general meeting (AGM), said Indian Oil Corporation (IOCL) in its filing.

Segment wise, revenue from petroleum products was up by 11 per cent to 2,20,428.74 during the fourth quarter from 1,99,161.55 reported a year ago. While, sales from the petrochemicals business declined 27 per cent cent to 6,282 crore for the quarter ended March, compared with 8009 crore in the March quarter of last year.

Revenue from the other business activities rose 21 per cent to 8,798 crore for the quarter under review. It was 7,253 crore in the same quarter last year. 

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 16 May 2023, 08:04 PM IST
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout