IOC Q4 Results: Net profit drops 40% QoQ to ₹4,838 crore; declares dividend of ₹7
₹4,837.69 crore for the fourth quarter of FY24. The state-owned oil marketing company posted a net profit of ₹8,063.39 in the previous quarter.
IOC’s Q4FY24 revenue from operations fell 1.4% to ₹2,19,875.55 crore from ₹2,23,012.37 crore, QoQ. Average Gross Refining Margin (GRM) for the year April-March 2024 is $12.05 per barrel as against $19.52 per barrel during the same period last year.
The core GRM or the current price GRM for the year April - March 2024 after offsetting inventory loss/ gain comes to $11.44 per barrel, IOC said. The Board of Directors of IOC has recommended a final dividend of ₹7.00 per equity share of face value of ₹10 each for the year 2023-24.
The final dividend would be paid within 30 days from the date of declaration at the AGM. The record date for payment of final dividend would be fixed and intimated in due course.
At 3:10 pm, IOC shares were trading flat at ₹176.80 apiece on the BSE. Read all Q4 results hereMilestone Alert!
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