IOC Reports Higher Net Profits and Revenues in FY18
Indian Oil Corporation (IOC) has posted a net profit of Rs. 21,346-crore for FY18 as compared to a profit of Rs. 19,106-crore in the last fiscal. The reported revenue from operations for FY18 was Rs. 5,06,428-crore as compared to Rs. 4,45,442-crore in FY17.
The Board of Directors recommended a final dividend of 20% (Rs. 2 per share), in addition to the pre-bonus Interim Dividend of 190% (Rs.19 per share) paid during the year.
According to IOC Chairman, Mr. Sanjiv Singh, the refiner sold 88.763-mt of products, including exports, during 2017-18. Refining throughput for FY18 was 69.001-mt and the throughput of the countrywide pipelines network was 85.675-mt during the same period. The gross refining margin (GRM) during FY18 was US$8.49 per barrel, as compared to US$ 7.77 per barrel in FY17.
Sanjiv Singh
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