The board of state-owned Indian Oil Corporation (IOC) has given its approval for the issue of bonus shares. The Board of Directors of Indian Oil Corporation has recommended issuance of bonus shares in the ratio of 1:2. That is, the investors who will have 2 shares of the company will get 1 bonus share. The board of the company has fixed the record date of bonus shares as 1 July 2022. Shares of Indian Oil closed at Rs 124.40 on the Bombay Stock Exchange on Tuesday, up about 2 per cent.
The company is giving a final dividend of Rs 3.60 on every share
The board of oil marketing company IOC has recommended a final dividend of Rs 3.60 per share of Rs 10 face value (before bonus) for the financial year 2021-22, which is Rs 2.40 per share after bonus shares. Will go The final dividend will be paid within 30 days from the date of declaration in the AGM. The state-owned oil company has given an interim dividend of Rs 9 per share in addition to the final dividend for the financial year 2021-22.
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The company reported a net profit of Rs 6,645 crore in the March quarter.
The state-owned oil marketing company has a consolidated net profit of Rs 6,645.72 crore for the quarter ended March 2022. The profit of the state-owned company declined by 26.37 per cent as compared to the same period last year. Indian Oil Corporation had a consolidated net profit of Rs 9,026.49 crore in the March quarter last year. The company’s revenue from operations grew 26.13 per cent to Rs 209,049.16 crore as against Rs 1,65,734.27 crore in the same period last year. The company has said that its average gross refining margin (GRM) for April-March 2022 has been $11.25 per barrel.
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