InvestorQ : What were the highlights of the quarterly numbers of IOCL for the March 2022 quarter?
NISHA Nayak made post

What were the highlights of the quarterly numbers of IOCL for the March 2022 quarter?

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Priyanka N answered.
2 months ago
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India’s largest company, Indian Oil Corporation, reported -31.4% lower net profits for Q4FY22 at Rs6,022 crore due to pressure on petchem margins in the quarter. However, for the full year FY22, net profits announced by IOCL set a new life-time record for the counter.

Revenues for the quarter were up 26.1% yoy at Rs206,461 crore for Q4FY22. There was a sharp margin squeeze in petchem. BPCL also suffered losses in the retail business as prices were not increased for 4 months amidst rising crude prices. The refining GRM of $11.25/bbl was offset by weak petchem margins. IOCL has also announced a bonus issue in the ratio of one-for-two shares. In addition, it paid a final dividend of Rs.3.60 per share pre-bonus.

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