The Indian government on February 23 announced that it received about Rs 1,939 crore from IOCL and Rs 67 crore and CONCOR as dividend tranches, DIPAM Secretary Tuhin Kanta Pandey said.
Government has respectively received about Rs 1939 crore and Rs 67 crore from IOCL and CONCOR as dividend tranches. pic.twitter.com/7Qerf2rqGo— Secretary, DIPAM (@SecyDIPAM) February 23, 2022
Earlier in January, the Indian Oil Corporation (IOC) reported a consolidated net profit of Rs 6,143.08 crore for the December quarter of the fiscal year 2021-22 (Q3FY22). The net profit was 40.9 percent against Rs 4,359.11 crore reported in the corresponding quarter of the previous fiscal.
Also, the firm's revenue from operations stood at Rs 1,99,375.30 crore against Rs 1,47,676.04 crore in the year-ago quarter, an increase of 35 percent.
Meanwhile, it announced a second interim dividend of 40 percent i.e. Rs 4 per equity share for the year 2021-2022. The interim dividend would be paid to eligible shareholders on or before March 2, 2022.
Ahead of the Budget, DIPAM Secretary had said that Life Insurance Corporation (LIC)'s initial public offering (IPO) is expected in early March, while Neelachal Ispat Nigam Limited's sale is going to be closed in a matter of days. Soon after three days, the government selected another arm of the conglomerate Tata Group -- Tata Steel Long Products Ltd (TSLP) -- as the strategic buyer of the state-run Neelachal Ispat Nigam Ltd (NINL).
TSLP submitted the highest bid of Rs 12,100 crore for 93.71 percent stake in the public sector iron and steel production company, the Ministry of Finance said in a statement issued on January 31.
