HomeEconomyIndian Oil's profit increased 3.8 times in the second quarter: It increased from ₹...
Indian Oil's profit increased 3.8 times in the second quarter: It increased from ₹ 420 crore to ₹ 2,016 crore, the company will give ₹ 3 dividend per share.
Indian Oil Corporation (IOC) has made a consolidated net profit of Rs 2,016 crore in the second quarter (July-September) of the financial year 2024-25. It has increased 3.8 times on annual basis. The company had made a profit of Rs 420 crore in the same quarter a year ago.
Apart from the results, the board of Indian Oil has also approved an interim dividend of Rs 3 per share to the shareholders. Companies give some part of the profits to their shareholders, it is called dividend.
Revenue stood at Rs 8,135 crore in the second quarter
Talking about operational revenue, it stood at Rs 8,135 crore in the second quarter. It has decreased by 7.7% on annual basis. The company had earned Rs 8,816 crore in the second quarter of the financial year 2023-24. However, the total income of the company stood at Rs 8,886 crore.
What is standalone and consolidated?
The results of companies come in two parts – standalone and consolidated. Standalone shows the financial performance of only one unit. Whereas, in the consolidated financial report, the entire company is reported.
Indian Oil shares rose 4.81% before results
Ahead of the results, Indian Oil shares closed at Rs 495 today, up 4.81%. The company's shares have given returns of 17.22% in the last 6 months and 138.52% in one year. The company's shares have risen 96.04% this year i.e. from January 1, 2024 till now. The market-cap of the company is Rs 80.56 thousand crore.
Indian Oil was formed in 1964, this Maharatna company
Indian Oil is a Maharatna National Oil Company. It was formed in 1964 with the merger of Indian Oil Company Limited and Indian Refineries Limited. Indian Oil Group owns 11 of India's 23 refineries. Indian Oil also has subsidiary companies in Sri Lanka, Mauritius, UAE, Sweden, America and Netherlands.
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