Indian Oil Corporation (IOC) has reported a consolidated net profit of Rs 2,016 crore in the second quarter (July-September) of the financial year 2024-25. It has increased 3.8 times on an annual basis. In the same quarter a year ago, the company had a profit of Rs 420 crore.
Apart from the results, the board of the company has also approved an interim dividend of Rs 3 per share to the shareholders. Companies give a part of the profit to their shareholders, it is called dividend.
Indian Oil Revenue stood at Rs 8,135 crore in the second quarter
Talking about operational revenue, it stood at Rs 8,135 crore in the second quarter. It has decreased by 7.7% on an annual basis. In the second quarter of the financial year 2023-24, the company earned Rs 8,816 crore. However, the total income of the company stood at Rs 8,886 crore.
What is standalone and consolidated?
The results of companies come in two parts – standalone and consolidated. In standalone reports, only the financial performance of one unit is shown. In contrast, consolidated financial reports present the performance of the entire company.
Indian Oil shares rose 4.81% ahead of results
Before the results, the company’s stock closed at Rs 495 today, up 4.81%. The company’s stock has given a return of 17.22% in the last 6 months and 138.52% in one year. The company’s stock has risen 96.04% this year i.e. from January 1, 2024, till now. The market cap of the company is Rs 80.56 thousand crores.
The Indian government formed Indian Oil in 1964, making it a Maharatna company
Indian Oil is a Maharatna national oil company. It was formed in 1964 with the merger of Indian Oil Company Limited and Indian Refineries Limited. Indian Oil Group owns 11 of the 23 refineries in India. The company also has subsidiaries in Sri Lanka, Mauritius, UAE, Sweden, USA and the Netherlands.
