IndianOil Financial Performance FY 2023-24 (Standalone)
New Delhi 30-Apr-2024
IndianOil reported Revenue from Operations of ₹8,66,345 crores for FY 2023-24 as compared to ₹9,34,953 crores in last year. The Net Profit for FY 2023-24 is ₹39,619 crores as compared to ₹8,242 crores during last year mainly on account of higher marketing margins as compared to last year.
The Revenue from Operations of IndianOil is ₹2,19,876 crores in Q4 2023-24 as compared to ₹2,26,492 crores in the corresponding quarter of last year. The Net Profit for the fourth quarter of FY 2023-24 is ₹4,838 crores as compared to ₹10,059 crores in the corresponding quarter of last year.
The Board of Directors have recommended the final dividend of ₹7.00 per equity share (face value: ₹10/- per equity share) for FY 2023-24 subject to approval by the members of the Company in the Annual General Meeting. This is in addition to the interim dividend of ₹5.00 per equity share paid during the year by the Company.
IndianOil Chairman, Mr. S. M. Vaidya, said, “IndianOil sold 97.551 million tonnes of products, including exports, during FY 2023-24. Our refining throughput for FY 2023-24 was 73.308 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 98.626 million tonnes during the year. The gross refining margin (GRM) for FY 2023-24 was US$ 12.05 per bbl as compared to US$ 19.52 per bbl in the previous financial year.
For the fourth quarter of FY 2023-24, IndianOil's product sales volumes, including exports, was 25.279 million tonnes. The refining throughput was 18.282 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 24.593 million tonnes during the quarter.”
Shyam Bohra
Executive Director (Corporate Communications & Coordination)
Indian Oil Corporation Limited
