IOC's fourth quarter FY'11 net down over 29 per cent at Rs3,905 crore
30 May 2011
Indian Oil Corporation Ltd, the country's top oil marketing company, has posted a net profit of Rs3,905.16 crore during the quarter ended 31 March 2011 against Rs5,556.77 crore in the quarter ended 31 March 2010 - a 29.22 per cent fall year-on-year.
Despite the high crude prices and the subsidy burden on fuels, IOC reported average gross refining margin of $7.85 a barrel in the quarter.
Total income of the state-rum oil marketing firm, however, increased to Rs99,202.68 crore during the quarter ended 31 March 2011 from Rs79,106.44 crore in the quarter ended 31 March 2010.
For the financial year ended 31 March 2011, IOC reported a net profit of Rs7,445.48 crore against Rs10,220.55 crore during the year ended 31 March 2010.
Total income for the year ended 31 March 2011, however, increased to Rs3,31,893.78 crore from Rs2,72,711.82 crore during the year ended 31 March 2010.
Consolidated group net profit stood at Rs7,830.72 crore for the year ended 31 March 2011 against Rs1,0713.19 crore in the year ended 31 March 2010.
Consolidated group income has increased to Rs31,3627.88 crore during the year ended 31 March 2011 from Rs2,57,579.20 crore during the year ended 31 March 2010.
The board of directors of IOC at its meeting today, inter alia, recommended a dividend of Rs9.50 per share for the year ended 31 March 2011.
