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Indian Oil Corporation Ltd has reported a net profit of Rs 5,218.10 crore for the last quarter of financial year 2017-2018. This is 40.28 per cent higher than the Rs 3,720.62 crore bottomline reported by the company in the same quarter of financial year 2016-2017.
Gross refinery margin, or the gain per barrel of crude oil processed, stood at $8.49 a barrel for the quarter ended March 2018. This is higher than $7.77 per barrel GRM reported by the company during the quarter ended March 2017.
In a filing to the exchanges, the company said that the board of directors has recommended a final dividend of Rs 2 per share (20 per cent on the paid-up equity share capital) for the financial year 2017-2018 subject to the approval of the shareholders at the ensuing Annual General Meeting.
The final dividend would be paid within 30 days from the date of its declaration at the AGM. This final dividend is in addition to the interim dividend of Rs 19 a share paid for the financial year 2017-2018.
The company shares were trading down by 2.99 per cent at Rs 160.35 on the BSE.
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