BW Communities

Indian Oil Jan-March Net Zooms More Than Three-Fold

BW Online Bureau Nov 08, 2014

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[State-owned Indian Oil Corporation reported a more than three-fold jump in net profit at Rs 12,670 crore for the quarter ended March 2012. In the same period a year ago it was Rs 3,905.16 crore. Analysts expected the company to post a net profit of Rs 9,400 crore during the quarter, up 140.70 per cent YoY, according to ET Now estimates. Total income increased to Rs 1,30,305.35 crore in the fourth quarter from Rs 99,130.03 crore for the March 2011 quarter, the company said in a BSE filing. The group posted a net profit after tax & minority interest of Rs 4,225.98 crore for the year ended March 31, 2012, compared to Rs 7,830.72 crore for the year ended March 31, 2011. Total income increased to Rs 4,12,111.16 crore for the year ended March 31, 2012, from Rs 3,13,244.71 crore in the previous year. The company received a subsidy of Rs 45,485 crore towards under-recovery on sales of HSD, SKO (PDS) and LPG (Domestic) for 2011-12 against Rs 22,604.84 crore in 2010-11. After the compensation, the company had to absorb just Rs 22.37 crore loss on the four fuel. It earned $4.25 on turning every barrel of crude oil into fuel in the fourth quarter ended 31 March 2012, as opposed to $7.56 a barrel gross refining margin a year ago. In the full fiscal, GRMs stood at $3.63 per barrel compared to $5.72 a barrel in 2010-11 fiscal. The IOC board recommended a dividend of Rs 5.00 per ordinary share for the financial year ended March 31, 2012. The company has posted a net profit after tax of Rs 39,546.20 crore for the year ended March 31, 2012 as compared to Rs 7,445.48 crore for the year ended March 31, 2011. Total Income has increased from Rs 33,1526.87 crore for the year ended March 31, 2011 to Rs 43,7706.59 crore for the year ended March 31, 2012. At 02:10 p.m., the company's shares were trading 0.6 per cent higher at Rs 267. The stock has hit a high of Rs 271.10 and a low of Rs 265.10 in trade so far.