NEW DELHI: Indian Oil reported Revenue from Operations of Rs. 7,28,460 crores for FY 2021-22 as compared to Rs. 5,14,890 crores in previous financial year.

The net profit for current financial year is higher at Rs. 24,184 crores as compared to Rs. 21,836 crores during previous financial year mainly on account of higher refining margins and higher inventory gain during the current period. The Revenue from Operations is Rs. 2,06,461 crores in Q4 2021-22 as compared to Rs. 1,63,733 crores in the corresponding quarter of the previous financial year.

The net profit for the fourth quarter of FY 2021-22 is Rs. 6,022 crores as compared to Rs. 8,781 crores in the corresponding quarter of the previous financial year which is due to lower petrochemical margins and exchange losses incurred during the current quarter.

Reflecting on the stellar operational performance of the corporation, Chairman, Indian Oil, S M Vaidya said, "This year, Indian Oil has notched up the highest ever Revenue from Operations and as well as highest ever Net Profit. This stellar achievement reflects our resolve to set new benchmarks of excellence even in the face of stiff challenges. This also validates our sustained focus on fuelling the socio-economic aspirations of new India".

The Board of Directors in this meeting recommended the issue of bonus equity shares in the ratio of one equity share of Rs.10 each for every two equity shares of Rs. 10 each held, subject to approval by the members of the Company. The bonus shares, upon approval, will also be eligible for the final dividend.

The Board of Directors in this meeting also recommended the final dividend of Rs. 3.60 per equity share having a face value of Rs. 10/- (pre-bonus), which translates into a final dividend of Rs. 2.40 per equity share having a face value of Rs. 10/- (post-bonus) for FY 2021-22, subject to approval by the members of the Company. This is in addition to the interim dividend of Rs. 9.00 per equity share (pre-bonus) paid during the year by the company.

Vaidya further said, “Indian Oil sold 86.407 million tonnes of products, including exports, during FY 2021-22. Our refining throughput for FY 2021-22 was 67.665 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 83.248 million tonnes during the year. The gross refining margin (GRM) for FY 2021-22 was US$ 11.25 per bbl as compared to US$ 5.64 per bbl in the previous financial year. For the fourth quarter of FY 2021-22, Indian Oil's product sales volumes, including exports, was 23.310 million tonnes. The refining throughput was 18.265 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 22.061 million tonnes during the quarter.”