IndianOil registers highest ever profit of Rs 19,106 crore -Governance Now

IndianOil registers highest ever profit of Rs 19,106 crore

IOCL’s profit for the last quarter of 2016-17 was Rs 3,721 crore as compared to Rs 2,006 crore in the corresponding quarter of previous fiscal

GN Bureau | May 26, 2017

#PSU #IndianOil #dividend #income from operations

IndianOil posted a net profit of Rs 19,106 crore for 2016-17 fiscal as compared to a profit of Rs 11,242 crore in the last fiscal. The income from operations for the financial year 2016-17 was Rs 4,45,373 crore as compared to Rs 4,06,828 crore in the previous fiscal.

IndianOil's income from operations was Rs 1,22,285 crore in Q4 2016-17 FY as compared to Rs 98,719 crore in the corresponding quarter of the previous financial year. Profit for the last quarter of 2016-17 was Rs 3,721 crore as compared to Rs 2,006 crore in the corresponding quarter of 2015-16.

The board of directors recommended a final dividend of 10 percent (Rs 1 per share). This is in addition to interim dividend of 180 percent (Rs 18 per share) paid during the year.

IndianOil, chairman, B Ashok, said that the corporation sold 83.490 million tonnes of products during 2016-17. “Our refining throughput for FY 2016-17 was 65.191 million tonnes and the throughput of the corporation's countrywide pipelines network was 82.490 million tonnes during the same period,” he said.

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