IOCL hits fresh 52-week high post Q4 earnings
1 min read 16 May 2023, 08:04 PM ISTIndian Oil Corporation on Tuesday reported 52 per cent jump in consolidated net profit to ₹10,841.23 crore for the quarter ended March 2023.
PremiumThe 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.
