Indian Oil Corporation (IOC) on Tuesday announced its fourth-quarter results. According to the results, in the January-March quarter of the last financial year, the company's profit has decreased, registering a decrease of 31.4 percent. The company reported a standalone net profit of Rs 6,021.88 crore or Rs 6.56 per share, compared to Rs 8,781.30 crore or Rs 9.56 per share in the same period a year ago.
profit over the previous quarter
Looking at the results presented by the company, the company's profit is higher than the previous ie third quarter's Rs 5,860.80 crore. In a statement issued by the company on the fall in profits, it was said that this has happened due to falling margins in the petrochemical business and loss in the sale of auto fuel. According to the report released in this regard, with the continuing jump in oil prices, the operating cost increased to Rs 2.06 lakh crore in the March quarter from Rs 1.63 lakh crore in the previous year's summon period.
Bonus shares will be issued in this ratio
The board of the company has recommended the issuance of bonus shares in the ratio of 1:2. Under this, for every two existing equity shares, a new bonus share of the face value of Rs.10 will be given. Talking about the full financial year 2021-22, the company reported a net profit of Rs 30,443.93 crore, which is 15 percent more than the previous financial year. The company has earned an income of Rs 7.28 lakh crore on a standalone basis in the last financial year.
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