IOCL declines after Q4 PAT drops 31% YoY

18 May 2022 , 09:25 AM

Total expenses increased by 29.5% YoY to Rs 1,99,327.91 crore during the quarter. Profit before tax in Q4 FY22 stood at Rs 8,084.68 crore, down by 26.2% from Rs 10,951.10 crore in Q4 FY21. IOCL recorded 10.8% increase in standalone net profit to Rs 24,184.10 crore on a 58.2% rise in net sales to Rs 5,98,163.75 crore in FY22 over FY21. While domestic sales increased by 6.5% to 80.493 MMT, export sales rose by 8.4% to 5.914 MMT in FY22 over FY21. The refineries throughput was 67.665 MMT (up 8.5% YoY) and the pipelines throughput was 83.248 MMT (up 9.5% YoY) for the year ended on 31 March 2022. The average gross refining margin (GRM) for the year April-March 2022 is $11.25 per barrel as against $5.64 per barrel for April-March 2021. The core GRM or the current price GRM for the year April-March 2022 after offsetting inventory loss/ gain comes to $7.61 per barrel. The board of directors has recommended issue of bonus equity shares in the ratio of 1 equity share for every two equity shares held. The bonus shares will also be eligible for the final dividend. The board of directors has also recommended the final dividend of Rs 3.60 per equity share (pre-bonus), which translates into final dividend of Rs 2.40 per equity share (post-bonus) for FY 2021-22. This is in addition to the interim dividend of Rs 9 per equity share (pre-bonus) paid during the year by the company. Indian Oil Corporation is an Indian government owned oil and gas explorer and producer. Powered by Capital Market – Live News