Maharatna PSU oil refinery reports robust returns in net profit, hits new 52-week high!

Board recommended a final dividend of Rs 3 per equity share.

Indian Oil Corporation Ltd, on a consolidated basis, has reported 54.64 per cent rise in its net profit at Rs 10,751.72 crore for the fourth quarter ended March 31, 2023, as compared to Rs 6,952.67 crore for the same quarter in the previous year and reported rise by 1368.37 per cent sequentially. The total income of the company increased by 10.64 per cent at Rs 231,926.82 crore for Q4FY23 as compared to Rs 209,629.86 crore for the corresponding quarter previous year. Board recommended a final dividend of 30 per cent for FY2023, which is Rs 3 per equity share.   

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Indian Oil is India’s flagship Maharatna national oil company with business interests straddling the entire hydrocarbon value chain from refining, pipeline transportation, and marketing, to exploration and production of crude oil and gas, petrochemicals, gas marketing, alternative energy sources, and globalization of downstream operations. 

Today, the shares of Indian Oil Corporation Ltd are currently trading at Rs 88.23, up by 1.23 points or 1.41 per cent from its previous closing of Rs 87 on the BSE. The scrip opened at Rs 87.80 and has touched a high and low of Rs 88.61 and Rs 87.50 respectively. So far 11,17,146 shares were traded on the counter. 

The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high of Rs 88.61and a 52-week low of Rs 65.20. The current market cap of the company is Rs 1,24,549.32 crore. The promoters holding in the company stood at 51.50 per cent, while Institutions and Non-Institutions held 18.83 per cent and 29.66 per cent respectively.