IndianOil Q4 Results: Reports Rs. 10,059 cr Net Profit in FY23

New Delhi: India's Central public sector undertaking company, Indian Oil Corporation Limited (IOCL) reported Revenue from Operations of Rs. 9,34,953 crores for FY 2022-23 as compared to Rs. 7,28,445 crores in last year. The Net Profit for FY 2022-23 is Rs. 8,242 crores as compared to Rs. 24,184 crores during last year mainly on account of lower marketing & petrochemicals margin and higher exchange losses during the current year as compared to last year.

The Revenue from Operations of IndianOil is Rs. 2,26,492 crores in Q4 2022-23 as compared to Rs. 2,06,457 crores in the corresponding quarter of last year. The Net Profit for the fourth quarter of FY 2022-23 is Rs. 10,059 crores as compared to Rs. 6,022 crores in the corresponding quarter of last year.
 

Read Also : EIL and GAIL achieve major milestone

The Board of Directors have recommended the final dividend of Rs. 3.00 per equity share (face value: Rs. 10/- per equity share) for FY 2022-23 subject to approval by the members of the Company in the Annual General Meeting.

Read Also : Mahanadi Coalfields Places 289 Youths in Industry

IndianOil Chairman, Mr. S. M. Vaidya, said, “IndianOil sold 95.714 million tonnes of products, including exports, during FY 2022-23. Our refining throughput for FY 2022-23 was 72.408 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 97.382 million tonnes during the year. The gross refining margin (GRM) for FY 2022-23 was US$ 19.52 per bbl as compared to US$ 11.25 per bbl in the previous financial year.

For the fourth quarter of FY 2022-23, IndianOil's product sales volumes, including exports, was 24.332 million tonnes. The refining throughput was 19.177 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 25.297 million tonnes during the quarter.”

Read Also : Power Grid Corporation secures Major Rajasthan Transmission System Project