Indian Oil Corporation reports 49% fall in Q4 consolidated net profit

30 Apr 2024 Evaluate

Indian Oil Corporation has reported results for fourth quarter (Q4) and year ended March 31, 2024.

The company has reported 51.91% fall in its net profit at Rs 4837.69 crore for the quarter under review as compared to Rs 10058.69 crore for the same quarter in the previous year. Total income of the company decreased by 2.89% at Rs 221532.53 crore for Q4FY24 as compared Rs 228130.16 crore for the corresponding quarter previous year.

On consolidated basis, the company has reported 49.38% fall in its net profit at Rs 5487.92 crore for fourth quarter ended March 31, 2024 as compared to Rs 10841.23 crore for the same quarter in the previous year. Total income of the company decreased by 2.97% at Rs 225103.37 crore for Q4FY24 as compared Rs 231989.60 crore for the corresponding quarter previous year. 

For the year ended March 31, 2024, the company has reported over 4- fold jump in its net profit at Rs 39618.84 crore as compared to Rs 8241.82 crore for the previous year. However, total income of the company decreased by 7.44% at Rs 871126.20 crore for year under review as compared to Rs 941187.88 crore for year ended March 31, 2023.

For the year ended March 31, 2024, on the consolidated basis, the company has reported over 3- fold jump in its net profit at Rs 43161.15 crore as compared to Rs 11704.26 crore for the previous year. However, total income of the company decreased by 7.39% at Rs 885078.30 crore for year under review as compared to Rs 955671.64 crore for year ended March 31, 2023.

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