The Board of Directors of Indian Oil Corp Ltd: declared a final dividend of Rs. 7/- per share, for FY 2023-24 “A dividend of 70% on face value of Re.10/- per share ”. The final dividend would be paid within 30 days from the date of declaration at the AGM. The Board of Directors of IOCL at its Meeting held on April 30, 2024, inter-alia, considered and approved the Audited Financial Results of the Company for the quarter and year ended March 31, 2024. As per report submitted to SEBI by the company (IOCL) on 30th April 2024.
The standalone results for the company (IOCL), revenue from operations decreased from Rs. 9,34,952.66 in FY-23 to Rs. 8,66,345.38 in FY-24 which is 7.34 percent approx decrease in revenue from operations on Y-o-Y basis. Revenue decreased Q-o-Q basis as well by 2.044 percent, from Rs. 224465.28 in Q3 FY24 to Rs. 219875.55 in Q4 FY24. Profit before tax increased from Rs. 9698.14 in FY23 to Rs. 52344.21 in FY24. PAT increased from Rs. 8,241.82 in FY23 to Rs. 39618.84 in FY24. Net profit margin increased from 0.88% in FY23 to 4.57% in FY24. Operating profit margin Increased from 1.11% in FY23 to 6.37% in FY24.
The consolidated results for the company (IOCL), revenue from operations decreased from Rs. 9,51,409.96 in FY-23 to Rs. 8,81,235.45 in FY-24 which is 7.37 percent approx decrease in revenue from operations on Y-o-Y basis. Revenue decreased Q-o-Q basis as well by 1.34 percent, from Rs. 2,28,160.31 in Q3 FY24 to Rs. 2,25,103.37 in Q4 FY24. Profit before tax increased from Rs. 15,037.69 in FY23 to Rs. 57,287.79 in FY24. PAT increased from Rs. 11,704.26 in FY23 to Rs. 43,161.15 in FY24. Net profit margin increased from 1.23% in FY23 to 4.90% in FY24. Operating profit margin Increased from 1.83% in FY23 to 6.78% in FY24. Analyst view, As per Motilal Oswal retains “Buy” rating for IOCL, expect a CAGR of 13.7% over FY 24-26 “ The target price for IOCL is Rs. 195 with SL of Rs. 186”.
*All Values are in crores.
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