Indian Oil Corp. announced on Tuesday a final dividend of Rs 7 per share, subject to approval by the members of the company in its annual general meeting.
The public sector company had declared an interim dividend of Rs 5 in November. The total dividend for the financial year will be Rs 12 per share, which means that the company is distributing Rs 16,945.48 crore to its shareholders for the last fiscal.
The government-owned oil marketing company's net profit fell to Rs 4,837.7 crore in the January–March period, compared to Rs 8,063.3 crore in the previous quarter, according to an exchange filing on Tuesday.
IOC Q4 FY24 Earnings Highlights (Standalone, QoQ)
Revenue down 1.41% to Rs 1.98 lakh crore. (Bloomberg estimate: Rs 1.92 lakh crore).
Ebitda down 33% to Rs 10,435.2 crore. (Estimate: Rs 15,635.6 crore).
Margin at 5.27% vs 7.77% (Estimate: 8.2%).
Net profit down 40% to Rs 4,838 crore. (Bloomberg estimate: Rs 7,352 crore)
Shares of IOC closed 3.79% lower at Rs 170.10 apiece on the BSE, compared to a 0.25% fall in the benchmark Sensex.
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