IOC Q4 net trebles to Rs 12670 cr on timely govt subsidy

Indian Oil Corporation's ( IOC ) net profit Jan-March quarter net profit more than trebled to  Rs 12,670 crore, year-on-year boosted by the Rs 45,484 crore subsidy it got from the government. The company's sales also grew two-fold to Rs 1.27 lakh crore (YoY) during the quarter.

The oil retailler's gross refining margin was at USD 4.25/bbl versus USD 3.63/bbl,YoY. GRM is the difference between the value of petroleum products and price of crude.The company has declared dividend of Rs 5 per share. Also watch the accompanying video for more details........

For the financial year 2011-12, the largest public sector oil retailler's net profit slipped to Rs 4225.98 crore versus Rs 7830.7 crore, YoY. However, its sales grew to Rs 412111.96 crore from Rs 313244.7 crore

The company has reported forex loss of Rs 2,769 crore in FY12. Its exceptional loss was Rs 1,540 crore on account of entry tax.