IOCL forges ahead on stellar Q4 results

Indian Oil Corporation rose 1.04% to Rs 435.15 at 15:00 IST on BSE after net profit jumped 85.48% to Rs 3721 crore on 25.01% rise in total income to Rs 124344.64 crore in Q4 March 2017 over Q4 March 2016.

The result was announced during market hours today, 25 May 2017.

Meanwhile, the S&P BSE Sensex was up 357.33 points or 1.18% at 30,658.97.

On the BSE, 2.18 lakh shares were traded in the counter so far as against average daily volume of 3.37 lakh shares in the past one quarter. The stock had hit a high of Rs 436 and a low of Rs 423.55 so far during the day.

The stock had hit a record high of Rs 450.65 on 16 May 2017. The stock had hit a 52-week low of Rs 196.33 on 24 May 2016. The stock had underperformed the market over the past one month till 24 May 2017, rising 2.09% compared with 2.18% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 11.83% as against Sensex's 4.88% rise.

The large-cap company has equity capital of Rs 4855.90 crore. Face value per share is Rs 10.

Indian Oil Corporation said that average gross refining margin rose to $7.77 per barrel in Q4 March 2017 from $5.06 per barrel in Q4 March 2016.

The net under realisation suffered by the company in Q4 March 2017 was nil.

The board of directors of Indian Oil Corporation recommended a final dividend of Re 1 per share for the year ended 31 March 2017 (FY 2017).

IOCL is India's flagship national oil company, with business interests that straddle the entire hydrocarbon value chain - from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas as well as marketing of natural gas and petrochemicals.

The Government of India held 57.34% stake in IOCL (as per the shareholding pattern as on 31 March 2017).

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