IOC’s net profit rises to Rs. 10,399 crore
New Delhi   28-May-2016

Indian Oil Corporation (IOC) posted a net profit of Rs.10,399.03 crore for 2015-16 against Rs.5,273.03 crore in the corresponding period of the previous year. Income from operations was Rs.3,50,603.09 crore against Rs.4,37,524.23 crore because of a decline in international oil prices. In the fourth quarter ended March 31, 2016, income from operations was Rs.80,449.57 crore against Rs. 93,830.13 crore in the corresponding quarter of 2014-15. The profit stood at Rs.1,235.64 crore against Rs.6,285.35 crore mainly due to lower gross refining margins. The board of directors recommended a final dividend of 85 per cent (Rs.8.50 per share). This is in addition to an interim dividend of 55 per cent (Rs.5.50 per share) paid during the year.