November 27, 2021

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IOC’s Q2FY22 YoY net profit up over 2%

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The board of directors of the company declared an interim dividend of Rs 5 per equity share.

New Delhi: Oil marketing company IndianOil on Saturday reported a marginal rise of over 2 per cent in its net profit for the second quarter of FY22 on a year-on-year basis.

Its net profit for the quarter under review rose to Rs 6,360 crore from Rs 6,227 crore in the corresponding quarter of FY21 due to higher refining margin during the quarter.

Further, the company’s revenue from operations increased to Rs 169,771 crore from Rs 115,754 crore earned during the corresponding quarter of FY21.

IndianOil Chairman S.M. Vaidya said that the OMC’s product sales volumes, including exports during Q2FY22 was 20.181 million tonnes.

Besides, he said the refining throughput was 15.277 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 19.533 million tonnes during the quarter.

Consequent to the results, the Board of Directors of the Corporation declared an interim dividend of Rs 5 per equity share.

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