Adani Enterp. 2433.65↓-0.30(-0.01%)
Adani Ports 745.40↑6.60(0.89%)
Apollo Hospitals 4940.10↓-10.10(-0.20%)
Asian Paints 3212.75↑13.00(0.41%)
Axis Bank 968.20↑17.35(1.82%)
B P C L 356.15↓-0.65(-0.18%)
Bajaj Auto 4726.25↑16.20(0.34%)
Bajaj Finance 7113.95↑70.75(1.00%)
Bajaj Finserv 1475.10↑16.20(1.11%)
Bharti Airtel 829.45↓-5.05(-0.61%)
Britannia Inds. 4705.40↑22.80(0.49%)
Cipla 972.05↓-2.75(-0.28%)
Coal India 227.80↓-1.90(-0.83%)
Divi's Lab. 3537.90↑75.60(2.18%)
Dr Reddy's Labs 4636.65↑33.10(0.72%)
Eicher Motors 3705.10↑31.85(0.87%)
Grasim Inds 1766.40↑31.90(1.84%)
H D F C 2635.35↓-9.45(-0.36%)
HCL Technologies 1128.60↓-9.70(-0.85%)
HDFC Bank 1599.40↓-5.00(-0.31%)
HDFC Life Insur. 579.70↑5.55(0.97%)
Hero Motocorp 2904.80↑34.20(1.19%)
Hind. Unilever 2691.15↓-4.65(-0.17%)
Hindalco Inds. 415.55↓-4.15(-0.99%)
ICICI Bank 942.10↓-4.65(-0.49%)
IndusInd Bank 1306.00↑4.20(0.32%)
Infosys 1279.00↓-25.50(-1.95%)
ITC 442.80↑2.15(0.49%)
JSW Steel 712.85↑0.70(0.10%)
Kotak Mah. Bank 1959.05↑34.15(1.77%)
Larsen & Toubro 2277.95↑9.65(0.43%)
M & M 1411.20↑15.80(1.13%)
Maruti Suzuki 9736.20↑154.10(1.61%)
Nestle India 21705.40↓-128.75(-0.59%)
NTPC 175.40↑1.30(0.75%)
O N G C 153.65↓-1.75(-1.13%)
Power Grid Corpn 235.30↓-0.30(-0.13%)
Reliance Industr 2479.35↑2.10(0.08%)
SBI Life Insuran 1223.00↑7.60(0.63%)
St Bk of India 585.35↓-1.85(-0.32%)
Sun Pharma.Inds. 1013.80↑5.05(0.50%)
Tata Consumer 792.10↓-0.35(-0.04%)
Tata Motors 555.75↑9.50(1.74%)
Tata Steel 109.00↓-0.40(-0.37%)
TCS 3232.30↓-56.60(-1.72%)
Tech Mahindra 1086.25↓-23.10(-2.08%)
Titan Company 2881.45↑25.75(0.90%)
UltraTech Cem. 8109.55↑227.55(2.89%)
UPL 694.00↑4.00(0.58%)
Wipro 399.95↓-4.25(-1.05%)

Indian Oil swings into black with record Rs 21,000-cr profit in FY21

Firm attributes remarkable to inventory gains caused by fluctuating global oil prices and rising sales of high-margin petrochemical products

Shreya Jai New Delhi

Premium

A logo of Indian Oil is picture outside a fuel station in New Delhi | Photo: Reuters

2 min read Last Updated : May 20 2021 | 1:07 AM IST

State-owned oil refining and marketing company Indian Oil Corporation (IOC) posted a record consolidated net profit of Rs 21,762 crore for the fiscal year 2020-21 (FY21) against a loss of Rs 1,876 crore the year before. This is the highest annual profit ever reported by the firm.

However, total income fell to Rs 5.23 trillion during FY21, from Rs 5.78 trillion.

IOC’s management attributed the increase in profit to inventory gains, which came from fluctuations in global oil prices and rising sales of high-margin petrochemical products.