IOC Q2 results: Profit growth flat at Rs 6,235 cr; firm declares Rs 5 dividend

Indian Oil Corporation (IOC) on Saturday reported a 1.14 per cent year-on-year (YoY) rise in net profit at Rs 6,235.39 crore for the September quarter compared with Rs 6,164.70 crore in the same quarter last year. Revenue for the said quarter rose 47 per cent YoY to Rs 171,787.19 crore from Rs 1,16,717.62 crore.

“Due to outbreak of Covid-19 pandemic and consequent national lockdown, the operations of the holding company during April-September 2020 were considerably affected. However, since then, the impact has significantly reduced as is evident from the physical performance during April-September 2021,” the company said in a BSE filing.

The board of directors of the company declared an interim dividend of Rs 5 per equity share. The interim dividend would be paid to eligible shareholders on or before November 29, 2021, the company said.

The company added that its average gross refining margin (GRM) for the quarter came in at $6.57 per barrel compared with $3.46 per barrel in the year-ago quarter. The core GRM or the current price GRM for the period after offsetting inventory loss/gain came in at $3.47 per barrel.

Net profit margin came in at 6.65 per cent for the first half of the financial year compared with 7.52 per cent in the comparable six months last year. Here is how other key ratios look like:


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