Indian Oil Q3 Results: Net profit jumps 53% to Rs 8,016.06 cr

NEW DELHI: State-owned fuel major Indian Oil Corporation (IOC) on Monday reported a consolidated net profit of Rs 8,016.06 crore for the December quarter, up 52.62 per cent against a profit of Rs 4,102.37 crore in the same quarter last year.

The total revenue from operations came in at Rs 1,99,375.30 crore, up 35 per cent against Rs 1,47,676.04 crore in the corresponding quarter last year.

The petroleum major said its board of directors also declared a second interim dividend of Rs 4 per share for the financial year 2021-22. The board fixed February 10 as record date to determine the eligibility of the shareholders to receive the dividend.


During the quarter, operating margin of the company stood at 5.96 per cent against 7.32 per cent in Q2FY22 and 7.99 per cent in Q3FY21. Net profit margin was at 4.55 per cent compared to 5.06 per cent and 5.87 per cent, respectively.

Average Gross Refining Margin (GRM) for the period April- December 2021 was $8.52 per barrel against $2.96 per cent for April- December 2020. The core GRM or the current price GRM for the period April - December 2021 after offsetting inventory loss/gain comes to $5.40 per barrel, the company said.